The US Department of Transportation reported Thursday that total miles driven in the US surpassed pre-pandemic levels.
Americans drove 277.4b miles in March, up from 272.4b miles during the same month in 2019 (+1.8%), and up from 269.4b miles in March 2021 (+3.0%).
Prices at the pump made all-time highs shortly following Russia's invasion of Ukraine, as oil prices (USO) traded above $130 per barrel.
Gasoline and diesel prices have again reached all-time highs in May, despite falling oil prices (USO), as refining margins (VLO) (MPC) reached new all time highs.
The US Department of Transportation reported Thursday that total miles driven in the US surpassed pre-pandemic levels.
Americans drove 277.4b miles in March, up from 272.4b miles during the same month in 2019 (+1.8%), and up from 269.4b miles in March 2021 (+3.0%).
Prices at the pump made all-time highs shortly following Russia's invasion of Ukraine, as oil prices (USO) traded above $130 per barrel.
Gasoline and diesel prices have again reached all-time highs in May, despite falling oil prices (USO), as refining margins (VLO) (MPC) reached new all time highs.