Americans are officially driving less than they did in the summer of 2020, when pandemic travel restrictions all but halted movement.
The four-week average of US gasoline consumption—the best gauge for the country’s demand—is now more than 1 million barrels a day below pre-Covid seasonal norms, according to Energy Information Administration data.
Read more: High Gas Prices Are Discouraging Americans From Buying Cars Right Now
The drop suggests the glimmer of demand recovery seen last week was fleeting: Though pump prices have fallen for 50 straight days, it’s not enough to lure drivers back to the road with historic inflation constraining consumer budgets.
More from TIME
The dip in demand caused gasoline futures to plunge as much as 11% in New York Wednesday. While that should pull retail prices even lower, the relief at the pump may come too late as the summer driving season nears its end.
Read more: Gas Prices May Be Rising But You’re Still Not Paying for the True Cost of Driving
- Exclusive: The Making of the U.S. Military's New Stealth Bomber
- Your Next House Could Be Made on an Assembly Line
- The Legal Implications of the Debate Over Whether 'Extreme Racism' Is a Mental Illness
- Why European Countries Are Giving Teens Free Money To Spend on Books, Music, and Theater
- Republican Skepticism of Trump Has Never Been Higher
- Column: The U.S. Prison System Doesn't Value True Justice
- How Green Is the Qatar World Cup’s Outdoor AC?
- 16 Funny and Whimsical White Elephant Gifts Under $25
- The 5 Best New TV Shows Our Critic Watched in November 2022
