US gasoline inventories spike, consumption falls

05 December 2012 16:51  [Source: ICIS news]

HOUSTON (ICIS)--A drop in gasoline consumption in the US caused stockpiles to rise for the week ended 30 November, a government agency said on Wednesday.

Finished motor gasoline consumption dropped by 73,000 bbl/day to a rate of 8.354m bbl/day, according to the US Energy Information Administration (EIA).

Year on year, gasoline consumption is 3.3% lower than the same time period one year ago.

Accordingly, gasoline inventories gained 7.8m bbl to 212.1m bbl. Analysts predicted an increase of just 2.5m bbl in inventories.

Meanwhile, US gasoline production increased by 128,000 bbl/day to 9.012m bbl/day, the EIA said.

Accordingly, refinery utilisation increased by 2 percentage points to a rate of 90.6% for the week ended 30 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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By: Anna Matherne
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