03 October 2012 16:51 [Source: ICIS news]
HOUSTON (ICIS)--Consumption of US gasoline dropped for the week ended 28 September, while stockpiles rose, a government agency said on Wednesday.
US finished motor gasoline consumption was 137,000 bbl/day lower at a rate of 8.633m bbl/day, according to the US Energy Information Administration (EIA).
Year on year, gasoline consumption is 4% lower.
Gasoline inventories gained 100,000 bbl to 195.9m bbl. Analysts had predicted that gasoline inventories would drop by that same amount.
For the week ended 28 September, US gasoline production gave back nearly all the gains it made the prior week, falling by 166,000 bbl/day to 8.737m bbl/day. In the week ended 21 September, gasoline production rose by 161,000 bbl/day to 8.903m bbl/day, the EIA said.
US refinery utilisation held relatively steady, gaining 0.8 percentage point to a rate of 88.2% for the week ended 28 September.
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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