Amid warmer weather and looser pandemic restrictions, surging demand for gasoline over the Memorial Day weekend was no surprise.
Prices remain distorted by the Colonial fuels pipeline outage and an extraordinary spike in gasoline demand.
Panic at the pump is adding to the widely reported supply-side pressures.
The Colonial Pipeline meets about half of the East Coast market demand for refined petroleum products.
Data suggest U.S. demand for oil and petroleum products is near pre-pandemic levels.