According to the Energy Information Administration (EIA), demand for gasoline and diesel in the United States has plummeted to its lowest seasonal levels since the onset of the COVID pandemic, raising concerns about an economic slowdown. Monthly averages for the week ending May 3 show gasoline demand at 8.63 million barrels per day, a figure not seen since May 2020. Demand for distillates has also dropped to 3.6 million barrels per day, marking a seasonal low not observed since the pandemic began. The 3-2-1 crack spread, serving as a gauge for refining market sentiment, fell below $26.50 per barrel for the first time in approximately three months on Wednesday, the lowest level in three years. These numbers have sparked debate about whether economic activity is decelerating or if renewable energies are making strides in displacing fossil fuels. But taking a look on the US economic numbers, the reason of the decline is obviously the slowing economic activity.