29 August 2012 17:55 [Source: ICIS news]
HOUSTON (ICIS)--Inventories of finished gasoline fell for the week ended 24 August, as consumption also decreased, a government agency indicated on Wednesday.
US gasoline stockpiles fell by 1.5m bbl to 201.2m bbl, according to the US Energy Information Administration (EIA).
For that same week, gasoline consumption fell by 17,000 bbl/day, to 9.064m bbl/day.
Year on year, gasoline consumption is down by 1.8%. However, consumption is expected to increase in the aftermath of Hurricane Isaac and 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 increased for the week ending 24 August, rising by 44,000 bbl/day to 9.063m 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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