High U.S. gas prices weigh on demand with impact on consumption


A photo of a natural gas flare burning near an oil pump jack at the New Harmony Oil Field in the U.S. on June 19, 2022.

Luke Sharrett | Bloomberg | Getty Images

Surging gasoline prices in the U.S. are showing signs of impact on consumption, according to one risk analyst.  

“We’re starting to see some signs of demand destruction, particularly for gasoline, but it’s really just off some of the highs of last year, when gasoline prices were much cheaper,” Rachel Ziemba, founder of Ziemba Insights, a research firm, told CNBC’s “Squawk Box Asia” on Monday.

Demand destruction refers to persistent high prices or tight supplies that eventually lead to a drop in demand, in this case, for energy…


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