08 August 2012 16:50 [Source: ICIS news]
HOUSTON (ICIS)--Inventories of US gasoline fell for the week ended 3 August as consumption increased, a government agency indicated on Wednesday.
US gasoline stockpiles fell by 1.8m bbl to 206.1m bbl, according to the US Energy Information Administration (EIA).
Analysts predicted stockpiles would fall by 1.9m bbl.
For that same week, gasoline consumption gained 19,000 bbl/day to a rate of 8.839m bbl/day.
However, compared to the same time period one year prior, gasoline consumption is 4.8% lower.
Production of finished motor gasoline also increased, gaining 159,000 bbl/day to 8.899m bbl/day, according to the EIA. The biggest regional gain was on the east coast, which was at 2.998m bbl/day, up from the previous week’s rate of 2.872m bbl/day.
Accordingly, US refinery utilisation rose to a rate of 92.6% for the week ended 3 August. The previous week had a rate of 92.2%.
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.
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