local
Global oil demand is dropping, but US drivers keep buying more gas
By Cathy Bussewitz, Associated Press at KSAT 12 (ABC affiliate) — San Antonio
· July 10, 2026
· 5 min read
Global oil demand is set to decline this year for the first time since the height of the COVID-19 pandemic in 2020, according to a report from the International Energy Agency.The drop, which the agency expects to amount to about 1 million barrels per day in 2026, is due to higher oil prices and d...
Key takeaway The drop, which the agency expects to amount to about 1 million barrels per day in 2026, is due to higher oil prices and disruptions to physical supply that weighed heavily, but unevenly, on various parts of the world, the report said.
Why this matters in Terrell Hills News
The trend of increasing gasoline use in the US, despite higher pump prices, is particularly relevant to Terrell Hills residents who rely heavily on their vehicles for daily commutes and transportation. As a community within the San Antonio area, Terrell Hills drivers may not be as affected by the global decline in oil demand, but they will still feel the impact of fluctuating oil prices. The fact that China's reduction in oil consumption is helping to keep prices from spiking higher may provide some relief to local drivers, but it's unclear how long this trend will continue. As the situation with the Strait of Hormuz remains uncertain, Terrell Hills residents should be prepared for potential price increases at the pump, and consider exploring alternative transportation options or adjusting their daily commutes to mitigate the impact of higher gas prices.
About this story
Original reporting by KSAT 12 (ABC affiliate) — San Antonio . Terrell Hills News surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) — San Antonio . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 10, 2026 ·
Source: KSAT 12 (ABC affiliate) — San Antonio ·
Reading time: 5 min
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Frequently asked about this story
What is this story about? Global oil demand is set to decline this year for the first time since the height of the COVID-19 pandemic in 2020, according to a report from the International Energy Agency.The drop, which the agency expects to amount to about 1 million barrels per day in 2026, is due to higher oil prices and d...
When was this published? This article was first published on July 10, 2026 by KSAT 12 (ABC affiliate) — San Antonio and curated for Terrell Hills News readers.
Who reported this story? This story was reported by Cathy Bussewitz, Associated Press at KSAT 12 (ABC affiliate) — San Antonio. To learn more about how Terrell Hills News selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from Terrell Hills News, or browse our daily briefing and topic hubs .
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