05 July 2012 17:42 [Source: ICIS news]
HOUSTON (ICIS)--US gasoline inventories increased for the week ended 29 June, though the gain was not enough to offset even higher gasoline consumption, a government agency indicated on Thursday.
Gasoline stockpiles gained 200,000 bbl for a total of 205m bbl, according to the US Energy Information Administration (EIA). All regions in the US posted either slight gains or losses, which led to the minimal impact in overall gasoline inventories.
For that same week, consumption of finished motor gasoline increased by 155,000 bbl/day to a level of 9.001m bbl/day. Consumption had previously gained 153,000 bbl/day in the week ended 22 June.
According to the EIA, finished motor gasoline consumption 5% lower for the week ended 29 June than the cumulative daily average during the same time period one year prior. The previous week was 5.1% lower. A busier summer travel season has helped to boost the gasoline daily average in recent weeks.
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, gasoline production dropped for the week ended 29 June, falling by 39,000 bbl/day to a rate of 9.137m bbl/day.
Accordingly, US refinery utilisation fell to 92%, which is a 0.6 percentage point lower than the previous week.
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