16 April 2010 17:10 [Source: ICIS news]
HOUSTON (ICIS news)--US refineries produced more gasoline in March than any other previous month on record, the American Petroleum Institute (API) said on Friday.
The 9.3m bbl/day produced were more than any previous month, while the 9.2m bbl/day of gasoline deliveries, or demand, was higher than any previous March, the trade group said.
Refinery-grade propylene (RGP) ended March trading at 68.00-70.00 cents/lb ($1,499-1,543/tonne, €1,543-1,142/tonne), up from 48.50-50.00 cents/lb in the first week of January, according to global chemical market intelligence service ICIS pricing.
April RGP was offered on Friday at 47.00 cents/lb, its lowest level in 2010, but failing to attract interest from buyers.
Market participants have also attributed the drop in RGP prices to weakening demand.
Total March deliveries of all products, including gasoline, distillate, jet fuel and residual fuel, rose 3.5% year over year. The increase in
($1 = €0.74)
Additional reporting by William Lemos
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