22 August 2012 17:50 [Source: ICIS news]
HOUSTON (ICIS)--Inventories of finished gasoline fell for the week ended 17 August as consumption also decreased, a government agency indicated on Wednesday.
US gasoline stockpiles fell by 1.0m bbl to 202.7m bbl, according to the US Energy Information Administration (EIA).
For that same week, gasoline consumption fell by 227,000 bbl/day to a rate of 9.081m bbl/day.
Year on year, gasoline consumption is down by 4.4%. However, consumption is expected to increase for the US Labor Day holiday weekend, which is 30 August to 3 September.
The holiday is considered the end of the summer driving season, when demand typically decreases.
Production of finished motor gasoline decreased for the week ending 17 August, falling 50,000 bbl/day to 9.019m bbl/day, according to the EIA.
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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