17 October 2012 16:37 [Source: ICIS news]
HOUSTON (ICIS)--Consumption and stockpiles of US gasoline for the week ended 12 October rose following the prior week’s losses, a government agency said on Wednesday.
US finished motor gasoline consumption was 142,000 bbl/day higher at a rate of 8.729m bbl/day, according to the US Energy Information Administration (EIA).
However, year on year, gasoline consumption is 3.9% lower.
For the week ended 12 October, gasoline inventories gained 1.7m bbl to reach 197.1m bbl.
Analysts had predicted that gasoline inventories would gain just 400,000 bbl.
US gasoline production was at 8.754m bbl/day, 106,000 bbl/day up from the week ended 5 October, which had a production rate of 8.648m bbl/day, the EIA said.
US refinery utilisation also increased, gaining 0.7 percentage point to an operational rate of 87.4% for the week ended 12 October.
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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