Sunoco Chair Ray Washburne says U.S. fuel demand 'surprisingly' hasn't gone down
Speakers
Ray Washburne
— CEO, Charter Holdings
Summary
Ray Washburne, chairman of Sunoco, discusses the resilience of U.S. fuel demand, noting it has ticked up despite price increases due to stable supply and energy independence. He warns of potential risks in Europe's diesel market from supply chain dependencies, while also commenting on stable conditions in the restaurant and luxury retail sectors in the U.S.
- U.S. gasoline demand has surprisingly ticked up with stable supply.
- U.S. energy independence insulates it from global energy shocks.
- Restaurant industry sales are flat with a shift to delivery services.
- Europe faces diesel supply risks due to reliance on key straits.
- High-end consumer spending in the U.S. remains robust.
- Labor market and most commodity prices are stable, except for beef.
- Natural gas prices have remained flat, keeping costs benign.
Trade Ideas
U.S. fuel demand remains resilient despite prices.
U.S. fuel demand has surprisingly not decreased and has even ticked up slightly, supported by stable domestic supply (20-21 days in terminals, refineries at 92% capacity), and the U.S. is energy independent, making it resilient to global shocks. Gas prices have kept pace with inflation historically, and improved vehicle mileage reduces consumer sensitivity.
Europe at risk from diesel supply chain issues.
Europe is vulnerable to diesel supply shocks because 80% of its diesel goes through the Strait, and with jet fuel issues in Asia causing ripple effects, Europe could be the next area to face significant disruptions if the situation extends, posing risks to its energy market.
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This CNBC video, published April 13, 2026, features Ray Washburne discussing SUN, UCO. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Ray Washburne · Tickers: SUN, UCO