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Demand for gasoline in the United States, which accounts for one-tenth of global oil consumption, is expected to peak next year as engines become more efficient, WoodMackenzie analysts said.

Gasoline exports have risen above imports for three consecutive weeks as recurring pipeline outages and higher production levels by refiners caused Gulf Coast inventories to grow.

The global oil market is "severely oversupplied" with gasoline — with stocks at a five-year high — serving as a blow to crude prices from next month, reckon Morgan Stanley analysts led by Adam Longson.

Refineries across the nation are operating full out and imports are pouring into the East Coast, boosting gasoline supplies to a record.

U.S. drivers are burning gasoline at a record pace this summer as they take advantage of the lowest prices at the pump in more than a decade.

Gasoline prices at U.S. pumps fell for the first time in four months, according to Lundberg Survey Inc.

The rebound in fuel costs pushed up U.S. wholesale prices in May for a second month, overshadowing a drop in pricing power more broadly that signals inflation will take time to move toward the Federal Reserve’s goal.

The biggest increase in U.S. gasoline demand in almost 40 years hasn’t been enough to keep storage tanks from filling up.

U.S. gasoline demand rose at the fastest annual rate in almost 40 years in February as stronger economic growth and cheap fuel prices spur driving in the world’s biggest oil consumer.