Gasoline demand has roared back past pre-pandemic levels

New federal data shows that gasoline demand has returned to pre-pandemic levels — and beyond.

Why it matters: It shows how vaccines, return to office work and the broader reopening of the economy have prompted a major return to the roads.

Driving the news: Gasoline supplied, a proxy for demand, rose to a record 10 million barrels per day for the week ending July 2, the highest ever recorded in Energy Information Administration data.

• The four-week running average, however, remains somewhat below where it was in the summer of 2019 (see for yourself here).
• H/t to Bloomberg for noticing the new one-week record in EIA's weekly petroleum data dump.