19 December 2012 17:33 [Source: ICIS news]
HOUSTON (ICIS)--Gasoline inventories in the US increased for the third consecutive week despite higher consumption rates, a government agency said on Wednesday.
Gasoline stockpiles for the week ended 14 December gained 2.2m bbl to a 219.3m bbl, according to the US Energy Information Administration (EIA).
Since the week ended 16 November, gasoline inventories have gained 18.9m bbl.
Stocks gained despite an increase in finished gasoline consumption, which was 130,000 bbl/day higher at a rate of 8.618m bbl/day.
However, year on year, gasoline consumption is 3.3% lower than the same time period one year ago.
Meanwhile, US gasoline production rose by 79,000 bbl/day to 9.149m bbl/day for the week ended 14 December.
Higher refinery utilisation led to the production gains as utilisation rates were 1.1 percentage point higher at 91.5%.
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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