Weekend Economists Enumerate the Wealth of Nations, February 10-12, 2012

[Demeter]

52. Petrol 3-Month Rolling Ave. Sharply Lower; Neg. Shipping Rates; Collapse in Global Trade

http://globaleconomicanalysis.blogspot.com/2012/02/petroleum-3-month-rolling-average-turns.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29

On February 6, I noted (with huge thanks to reader Tim Wallace) a Huge Plunge In Petroleum and Gasoline Usage.

Tim used weekly numbers, which show, much week-to-week volatility. Instead, I proposed using rolling three-month averages, compared to the same three months in prior years.

Today I received some updated charts that are much easier to see precisely what is happening.

Gasoline Usage Last Three Months vs. Last Three Months Prior Years



Gasoline Usage by Quarter Ending December 2011



Wallace writes "Gasoline and petroleum demand recently has plunged more than at any time in the recession. When you see petroleum usage back to numbers in the 1990's, you know there is serious economic trouble no matter what the talking heads say."

Wallace willing, each month I will post the "Petroleum Rolling Three-Month Average Index". Hopefully we can get a derivative of that first chart, "Percent Change From a Year Ago".

At the end of February the comparison will be December - January - February vs. the same three months in prior years.