Americans are driving fewer miles than they were a year ago, despite an improving economy. Some say the American demand for oil will be low throughout the rest of this year.
"There is no sign of anything more than a modest increase in demand for gasoline so far this year. Last week's MasterCard (MA) SpendingPulse report showed consumption of gasoline for the first two weeks of May running about 1.3% ahead of last year. For the year, consumption has risen about 1%.
Demand is 4% below 2007 levels, according to the MasterCard data, which tallies total gas sales paid by credit card, checks and cash."
Americans are driving about the same amount of miles as they did in 2005. The recession is mainly cited as the reason for the decrease in miles travelled.
FULL STORY: Shaky economy still keeping Americans off the road
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