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.

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By: Anna Matherne
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