28 December 2012 17:52 [Source: ICIS news]
HOUSTON (ICIS)--Gasoline inventories in the US increased for the fourth consecutive week as production rates climbed, a government agency said on Friday.
Gasoline stockpiles for the week ended 21 December gained 3.8m bbl to 223.1m bbl, according to the US Energy Information Administration (EIA). Analysts predicted a gain of just 1.5m bbl.
Higher production rates caused inventories to rise. For the week ended 21 December, gasoline production was at 9.397m bbl/day, an increase of 248,000 bbl/day from the previous week.
Meanwhile, gasoline consumption had little change despite an increase in holiday automobile travel. Gasoline consumption fell by 10,000 bbl/day to 8.608m bbl/day, the EIA said.
Year on year, gasoline consumption is 3.3% lower than the same time period one year ago.
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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