US gasoline inventories drops as consumption rises

16 May 2012 17:35  [Source: ICIS news]

HOUSTON (ICIS)--Gasoline stockpiles dropped and consumption rose for the week ended 11 May, according to a government report released on Wednesday.

Gasoline inventories have dropped since early February, when stockpiles were over 232m bbl for the week ended 10 February, according to the US Energy Information Administration (EIA).

For the week ended 11 May, inventories fell by 2.8m bbl, dropping to 204.3m bbl from 207.1m, according to the EIA weekly data report.

Consumption of finished gasoline gained, reaching 8.971m bbl/day, compared with 8.864m bbl/day for the week ended 11 May, according to the EIA. The week ended 11 May showed consumption higher by 107,000 bbl/day.

Production of motor gasoline rose to 8.888m bbl/day, up from 8.787m bbl/day, according to the EIA. This was consistent with refinery utilisation at 88.3%, rising from 86.4%.

By: Sheena Martin
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