The White House promised 180 million barrels of emergency oil towards addressing the crisis of energy supply. But that hasn’t translated into American drivers cutting consumption, the Financial Times said.
U.S. oil use this year has averaged around 21 million barrels a day just in the past month. That’s around 8% increased from a year ago, hitting pre-pandemic levels.
The sales are up for gasoline, diesel and jet fuel, and will likely be even higher as the summer holidays get nearer.
The demand is a new factor in the world petroleum market, which is increasingly tight. It has all helped to propel crude’s price above $100 a barrel.
But motorists are not backing down, with one Texas man quoted saying he’ll just “deal with it,” paying $3.89 a gallon and a total of $87.02. But he keeps on driving, the report said.
According to the International Energy Agency, which is a watchdog for wealthy countries, conservation should be paramount, as there’s a likely energy crisis from the Russian war on Ukraine.
The agency has a 10-point plan, which comes with lower speed limits, working from home and more carpooling.
This, according to the report, would cut possibly 2.7 million barrels per day out of the world oil demand. But legislatures in various states have suspended gas taxes, subsidizing driving. California Gov. Gavin Newsom has proposed a $11 billion relief package including a $400 tax rebate per car owner – and more incentives for electric vehicles.
See also: Payfare Increases Fuel Cashback for DoorDash Drivers to 10%
PYMNTS wrote that Payfare, which allows for instant payouts and digital banking solutions for the gig economy, has boosted the fuel purchase rewards for DoorDash workers.
Cardholders holding a Payfare DasherDirect debit card can earn 10% cash back on gas, an increase from 2%.
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