15 November 2012 18:04 [Source: ICIS news]
HOUSTON (ICIS)--Gasoline consumption in the US rose for the week ended 9 November, causing a drawdown in inventories, a government agency said on Thursday.
US finished motor gasoline consumption was 601,000 bbl/day higher at 8.908m bbl/day, according to the US Energy Information Administration (EIA).
However, year on year, gasoline consumption is 3.5% lower.
For the week ended 9 November, gasoline inventories fell by 500,000 bbl to 201.9m bbl. Analysts predicted gasoline inventories would drop by 2.5m bbl.
Gasoline production was at a rate of 8.856m bbl/day, 92,000 bbl/day lower from the week ended 2 November, the EIA said.
US refinery utilisation, or the amount of a region’s overall capacity that is used to refine oil, gained 0.6 percentage points to a rate of 86%.
East coast refinery utilisation was 7.9 percentage points higher at 66.4% for the week ended 9 November. The increase reflected the restart of refineries in the region following Hurricane Sandy.
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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