Americans are hopping on planes more than their counterparts in Europe and the rest of the Western hemisphere, a new U.S. Energy Information Administration analysis shows.
Why it matters: Persistently subdued air travel is one of the biggest reasons analysts are increasingly expecting global oil demand to plateau below pre-pandemic levels.
By the numbers: Jet fuel consumed by U.S. commercial passenger flights as of mid-August was about 43% what was consumed at the same time a year earlier.
- That is a higher share than in every other part of the world except China, where it’s at 60% compared to its year-earlier counterpart.
Yes, but: The future is, as they say, tough to predict. Demand for jet fuel in the U.S. slumped 18% compared to a week earlier, EIA said in other data released Wednesday.