But kind of going back to Mike's earlier comments, we do remain optimistic as we think about demand. I mentioned October we came out of the chute really strong here for Q4. We're continuing to see COVID demand recovery. Jet travel more broadly, the halo around activity and vacations, not just jet but marine fuel, diesel, gasoline, etc., And we also have moderated retail prices coming off of the summer highs. We're currently around $3.75 a gallon, well off of our highs in the summer. And demand continues to also be robust in South America and the Caribbean. The economies there are geared a little bit differently. We've got strong agriculture demand globally, as well as mining activity. There's been some price subsidization that's occurred in the south of the border here that's also helped to prop up demand. And then we're seeing pulls into Europe as well for obvious reasons, primarily around energy security and just having access to the fuel going forward as the winter ensues here.

Nov 1, 2022 / receipt, needs a key / Brian, other | earnings call 2022-11-01 | transcript 31a77d90-e0b1-495c-abfb-b1e4894df352 | chars 50817-51812 | segment 52

Demand remains resilient, largely driven by the removal of globally imposed mobility restrictions and the pent-up desire to travel. Jet fuel demand continued its recovery up nearly 20% from the same quarter last year, with the increased resumption of travel. Gasoline demand remained very resilient through the quarter in part due to the start of the summer driving season.

Aug 2, 2022 / receipt, needs a key / Mike Hennigan, CEO | earnings call 2022-08-02 | transcript fc7b2217-f00a-46fd-a866-c57eeff73bd4 | chars 1276-1649 | segment 1

While jet demand reached post-pandemic highs in the fourth quarter, it's still roughly 15% below 2019 levels as business travel remains suppressed, but we expect to see recovery in that this year as well.

Feb 2, 2022 / receipt, needs a key / Mike Hennigan, CEO | earnings call 2022-02-02 | transcript f4a6aaa5-b09f-45f5-a572-f8f53e584f74 | chars 1627-1831 | segment 1

Despite the growing levels of personal passenger traffic, we continue to see an absence of the longer haul international flights and business travel.

Aug 4, 2021 / receipt, needs a key / Mike Hennigan, CEO | earnings call 2021-08-04 | transcript 7bd8c099-c8f1-431f-b377-d2dc18a7754f | chars 1773-1922 | segment 1

As Mike said, we really need to get the immunization protocol built and as a country accelerate that process to get more and more people comfortable and then ultimately, you know, get schools back in session, get people back in the office, get people back on the roads, improve discretionary travel. And we think that's going to happen, but that may take some time and I think we're going to be sort of patient over the course of the year to see that really bear fruit.

Feb 2, 2021 / receipt, needs a key / Tim, other | earnings call 2021-02-02 | transcript c92dfeb8-cb39-45bf-b33e-1d93bf61dc41 | chars 20553-21022 | segment 21