Gasoline imports also appear to have fallen to the lowest level seen in decades, with a monthly average of just 124,000 bpd, almost half the monthly average of 244,000 bpd reported in the first six months of 2009, the latest monthly data report from the US Energy Information Administration shows.
Reports of US consumers using less gasoline as prices increase have already hit the product tanker market over the past few months, as has news of increased US oil production reducing its reliance on imports.
In its July report, the EIA showed that although 9.1mbpd of crude oil was estimated to have been imported in June, lower volumes in February and April have brought down the monthly average between January and June to 8.8mbpd.
By comparison, in the same period of last year, crude oil imports averaged nearly 9.3mbpd per month, which was up marginally on 2009 levels. But that was still short of the 10mbpd volumes seen in 2004-2007.
US gasoline imports have greatly reduced in the past six years as well, with the monthly average of 124,000 bpd between January-June representing just 20%of the record 603,000 bpd monthly average reported in 2005, EIA data shows.
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