21 November 2012 16:48 [Source: ICIS news]
HOUSTON (ICIS)--Both consumption and inventories of US gasoline fell for the week ended 16 November, a government agency said on Wednesday.
US finished motor gasoline consumption dropped by 10,000 bbl/day to a rate of 8.898m bbl/day, according to the US Energy Information Administration (EIA).
Year on year, gasoline consumption is 3.6% higher than the same period a year ago.
For the week ended 16 November, gasoline inventories fell by 1.5m bbl to 200.4m bbl.
Meanwhile, US gasoline production rose by 145,000 bbl/day to 9.001m bbl/day, the EIA said.
Accordingly, US refinery utilisation increased by 1.5 percentage points to a rate of 87.5% for the week ended 16 November.
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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