Lower US gasoline consumption leads to inventory gain

07 November 2012 17:18  [Source: ICIS news]

HOUSTON (ICIS)--Gasoline consumption in the US fell for the week ended 2 November, causing a gain in stockpiles, a government agency said on Wednesday.

US finished motor gasoline consumption was 537,000 bbl/day lower at 8.307m bbl/day, according to the US Energy Information Administration (EIA).

Year on year, gasoline consumption is 3.6% lower.

For the week ended 2 November, gasoline inventories gained 2.9m bbl to reach 202.4m bbl.

Gasoline production was at 8.948m bbl/day, 138,000 bbl/day lower from the week ended 26 October, the EIA said.

US refinery utilisation, or the amount of a region’s overall capacity that is used to refine oil, fell by 2.3 percentage points to a rate of 85.4%.

The east coast had the largest drop as the data reflects the impact of refinery shut downs for Hurricane Sandy. East coast refinery utilisation fell to a rate of 58.5% for the week ended 2 November. The previous week’s rate was at 81.0%.

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.

Follow Anna on Twitter

By: Anna Matherne

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly