by Erie Insurance on July 8, 2017
U.S. road travel is already up 1.5 percent over last year. So far, motorists have traveled 1.01 trillion miles on U.S. roads and highways in 2017. This matches similar travel trends seen in 2016.
This is positive news for oil refiners, as the driving season (typically the summer months) is just about halfway over. Increases in motor travel will likely have an effect on gasoline consumption, which was still down 2.7 percent at the end of the first quarter this year.
Read the full story from Thomson Reuters online news site, Reuters.