27 June 2012 16:21 [Source: ICIS news]
HOUSTON (ICIS)--Both US gasoline inventories and consumption increased for the week ended 22 June, a government agency indicated on Wednesday.
Stockpiles gained 2.1m bbl to reach 204.8m bbl, according to the US Energy Information Administration (EIA). A large part of the stock gains came from the US Gulf coast region, which rose 1.5m bbl to 68.7m bbl for the week ended 22 June.
For that same week, consumption of finished motor gasoline rose by 153,000 bbl/day to 8.846m bbl/day. Consumption had previously dropped by 437,000 bbl/day in the week ended 15 June.
Finished gasoline refers to the stage in the supply chain where it has reached primary sources, such as blenders and terminals, before delivery to the retail stations.
Furthermore, production levels of gasoline also increased for the week ended 22 June, gaining 239,000 bbl/day to reach 9.176m bbl/day.
Accordingly, US refinery utilisation hit 92.6%, which is 0.7 percentage point higher than the previous week. The largest regional gain was in the east coast, which gained 4.3 percentage points to reach 85.6% for the week ended 22 June.
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