VIDEO from American Petroleum Institute Available on API Chief Economist and Senior Economic Advisor Discuss Recent Rises in Gas Prices

Jan 21, 2011 (04:01 PM EST)

NEW YORK, Jan. 21, 2011 /PRNewswire/ -- See video from  American Petroleum Institute at:                            

Total U.S. petroleum deliveries (a measure of demand) were up 1.2 percent in December against the same month last year and up 2.3 percent for 2010 compared with 2009, evidence the U.S. economy continues to gain momentum. Both gasoline and diesel deliveries were up for full year 2010 over 2009, gasoline by 0.6 percent and distillates by 4.8 percent. Also, U.S. refiners set a record for annual gasoline production.

API Chief Economist John Felmy and API Senior Economic Advisor Rayola Dougher discuss the key factors behind recent price increases in gasoline, the API monthly demand statistics for gasoline and diesel and what these numbers signal in terms of the overall economy. Audio soundbites attached.

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Story Id: 21349