IEA: Despite rising prices, U.S. drivers are keeping fuel demand strong
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```htmlGolden Ten Data reported on July 10 that the International Energy Agency (IEA) stated that despite rising fuel prices and weakened consumer confidence, US gasoline demand has shown unexpectedly strong momentum. The average gasoline consumption in March and April increased by 1.5% year-on-year, reversing a twelve-month decline. Although gas station fuel prices have risen by nearly 50% since the conflict began, demand has still grown. The IEA indicated that preliminary data show growth slowed in May and June, but US drivers account for nearly one-third of global gasoline consumption, making US fuel usage a key market factor. While the agency noted that some of the recent growth may reflect consumer stockpiling behavior, it expects demand growth to return to levels closer to historical trends by 2027.```
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