Higher US gasoline consumption causes inventories to fall

30 January 2013 17:58  [Source: ICIS news]

HOUSTON (ICIS)--Gasoline consumption increased for the week ended 25 January, leading to a drop in stockpiles for the week ended 25 January, a government agency said on Wednesday.

Consumption rates for the week ended 25 January were 70,000 bbl/day, or 0.8%, higher at 8.501m bbl/day, according to the US Energy Information Administration (EIA).

Year on year, gasoline consumption is up by 3.0%.

Accordingly, gasoline inventories fell by 1m bbl that week to 232.3m bbl.

Meanwhile, production rates and refinery utilisation rose for the week ended 25 January.

Production increased by 217,000 bbl/day to 8.885m bbl/day, while utilisation rates gained 1.4 percentage points to reach 85%, the EIA said.

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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