31 May 2012 16:46 [Source: ICIS news]
HOUSTON (ICIS)--US consumption of finished gasoline moved higher for the week ended 25 May, the start of the US Memorial Day weekend, according to the weekly government inventory filing on Thursday.
Finished gasoline consumption gained 299,000 bbl/day to reach 8.931m bbl/day for the week ended 25 May, according to the US Energy Information Administration (EIA). The consumption level was still 5.2% lower year-on-year, the EIA report showed.
The US Memorial Day holiday weekend was 25-28 May.
Stockpiles for gasoline slipped to 200.2m bbl for the week of 25 May, compared with 201.0m bbl the prior week. Increased consumption contributed to the lower inventory levels.
Production of gasoline moved slightly higher to 9.023m bbl/day, up from 9.007m bbl/day the prior week. This was in sync with the refinery utilisation percentage, which moved up one percentage point to 89.1%.
Imports of gasoline moved significantly higher, climbing to 796,000 bbl/day from 575,000 bbl/day the week before. Exports held at 411,000 bbl/day of gasoline.
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