Norvergence: Because of the decrease in financial and mechanical movement activated by COVID-19, the LNG segment is confronting a ton of difficulties.
Norvergence: Also, the airline industry is devastated so we can assume most of that consumption will stop during this crisis. Assuming long-haulers won’t stop shipments too much because they are essential, diesel may not drop too much.
But gasoline will drop dramatically as we all hunker down, work from home, stop recreational travel, and shutter all restaurants, bars, and sporting events.
Norvergence: The average commute in the United States is 45 minutes and about 80% of that uses gasoline. According to the U.S. Census Bureau, 85% of our 150 million workers (or 128 million people) drove to their workplace in an automobile.