‘through our wholesale channel, there is really no indication of any demand destruction. In June, we actually set sales records… we did see a bit of a lull the first couple weeks of July but our seven-day averages are now back to that June level, with gasoline at pre-pandemic levels and diesel continuing to trend above pre-pandemic levels’ – Gary Simmons, EVP and Chief Commercial Officer at Valero
‘early in July, we had a little bit of a speed bump in and around July 4, where demand was slightly below where we thought it should be, ever since then, we’ve seen week-on-week increases and demand is picking up really across the board, but specifically in gasoline… diesel is steady…. The consumer is showing us very positive demand signals today’ – Rick Hessling, SVP Global Feedstocks at Marathon Petroleum
‘we saw some aberrations coming out of the July 4th weekend, that’s always questionable… then there was true up… we’ve seen the decrease in demand that the EIA is reporting…[but] ur demand at thewholesale level is holding up where its basically the same levels we’ve been seeing for the last 90 days‘ – Tom Nimbley, President and CEO of PBF Energy
‘we’re headed into turnaround season and [distillate] demand is strong. We’ve seen demand better than 2019 currently.’ – Mark Lashier, President and CEO of Phillips 66
‘we’re starting to see some demand destruction as a result of increased prices, particularly for gasoline with US vehicle miles travel turning negative in April and May compared to the same periods in 2019. More specifically to the mid-con, we have seen some tapering in gasoline and distillate demand, but both are comfortably within the five year average levels’ – Dave Lamp, President and CEO of CVI Energy
‘I would note July performance has been nothing short of exceptional as we benefit from the falling price environment that was inevitable. Being well positioned from the volume and share standpoint, when prices turn further accelerated our momentum. Month-to-date volumes are up 9% year-over-year.’ – Andrew Clyde, President and CEO of Murphy USA (fuel retailer)
