Thursday, June 30, 2022

U.S. motorists’ driving fell 25.5% in May from year earlier: DOT

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U.S. motorists drove 213 billion vehicle miles in May, down more than 50.6 billion miles, or 25.5%, from a year earlier as government lockdowns to stop the spread of the novel coronavirus kept drivers home, according to a monthly report from the U.S. Department of Transportation (DOT).

It was the fewest miles recorded for the month of May since 1995, according to the report.

U.S. driving data is closely watched by oil market participants because gasoline consumption is a key driver of the oil market.

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