Oil Use Falls to Lowest Level in 20 Years on High Prices

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The American Petroleum Institute reported demand for oil in February fell to the lowest level for the month in 20 years, according to Bloomberg News.

Total petroleum deliveries fell 4.1% from a year earlier to 18 million barrels a day, the lowest February level since 1993, Bloomberg reported.

The price of regular retail gasoline averaged $3.786 a gallon nationwide on Feb. 26, the highest for the month going back to 2004, according to Bloomberg.Ìý

Ultra-low-sulfur diesel use, the type used in trucking, fell 6.1% to 3.21 million barrels a day.



Distillate fuel use,Ìýwhich includes diesel and heating oil, fell 7.3% from a year earlier to 3.69 million barrels a day, Bloomberg said.

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