Dec 28, 2010
After 70 years of growth, U.S. gasoline demand began a long-term decline. By 2030, Americans will use about 80% of current consumption. Experts say U.S. gasoline demand has peaked in 2006 and will not return to that level.
While America's decreasing demand will temper global demand, it will be more than offset by rapidly growing demand in China, India, the Middle East, and Africa. As a result, declining U.S. gasoline demand will not bring lower pump prices because world demand will rise.