30 November 2011 18:23 [Source: ICIS news]
HOUSTON (ICIS)--Demand for finished gasoline jumped 2.1% during the US Thanksgiving holiday week, bringing demand closer to seasonal averages, according to the US Energy Information Administration (EIA) on Wednesday.
Demand for US finished gasoline for the week of 25 November increased by 177,000 bbl/day over the previous week, reaching 8.769m bbl/day. For the same week of 2010, demand was 8.867m bbl/day.
The AAA, a US motorist group, forecasted an increase in on-road travellers for the 2011 Thanksgiving holiday. Travel was expected to be 4% higher than 2010, and the group predicted 38.2m Americans travelling at least 50 miles (80 km) from home for the holiday by car.
Inventories of finished gasoline fell 500,000 bbl to 56.1m bbl for the week of 25 November.A drop in production, coupled with the increase in demand, resulted in the drop in inventories. Production fell to 9.188m bbl/day from 9.470m bbl/day the prior week.
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