04 April 2012 16:29 [Source: ICIS news]
HOUSTON (ICIS)--US consumption of finished motor gasoline increased for the second consecutive week, according to government statistics released on Wednesday.
Finished gasoline consumption rose by 73,000 bbl/day to reach 8.783m bbl/day for the week ended 30 March, according to the US Energy Information Administration (EIA).
Finished gasoline refers to the stage of gasoline in the supply chain where it has reached primary sources, such as blenders and terminals, before delivery to the retail stations.
Both refinery utilisation and finished gasoline production also rose for the week of 30 March.
Gasoline production increased by 61,000 bbl/day to a rate of 8.720m bbl/day. Refinery utilisation rose 1.2 percentage points to reach 85.7%.
The increase in gasoline production comes ahead of the busier summer driving season, when gasoline consumption is typically stronger.
Additionally, the EIA data showed US gasoline inventories fell by 1.5m bbl, dropping for the seventh straight week. Gasoline inventories were at 221.9m bbl for the week of 30 March. However, inventories remain high compared to one year prior, when stockpiles were at 216.7m bbl/day.
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