06 September 2012 16:40 [Source: ICIS news]
HOUSTON (ICIS)--Inventories of finished gasoline fell for the week ended 31 August, while consumption increased, a government agency indicated on Thursday.
US gasoline stockpiles fell by 2.3m bbl to 198.9m bbl, according to the US Energy Information Administration (EIA).
For that same week, gasoline consumption rose by 114,000 bbl/day to a rate of 9.177m bbl/day, as more drivers hit the road for the US Labor Day holiday, which typically marks the end of the summer driving season.
Year on year, gasoline consumption is down by 2.5%.
Production of finished motor gasoline fell for the week ending 31 August by 58,000 bbl/day to 9.005m bbl/day, according to the EIA.
US refinery utilisation fell to a rate of 86.1% for the week ended 31 August, as Hurricane Isaac shut down and reduced production at several plants along the US Gulf coast.
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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