16 January 2013 17:30 [Source: ICIS news]
HOUSTON (ICIS)--Gasoline inventories in the US rose by 0.8% last week, despite higher consumption rates, a government agency said on Wednesday.
Gasoline stockpiles for the week ended 11 January gained 1.9m bbl to reach 235m bbl, according to the US Energy Information Administration (EIA). Analysts predicted an increase of 2.5-3.0m bbl.
Inventories gained as production rates moved higher. For the week ended 11 January, gasoline production increased by 387,000 bbl/day to 8.591m bbl/day, the EIA said.
Meanwhile, finished motor gasoline consumption also rose, gaining 310,000 bbl/day to 8.320m bbl/day.
Year on year, gasoline consumption is 0.6% lower.
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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