06 February 2013 18:01 [Source: ICIS news]
HOUSTON (ICIS)--Gasoline consumption in the US fell for the week ended 1 February, causing a build-up in inventories, a government agency said on Wednesday.
Finished motor gasoline consumption rates for the week ended 1 February were at 8.415m bbl/day, down by 86,000 bbl/day or 1%, from the previous week, according to the US Energy Information Administration (EIA).
However, year on year, gasoline consumption is up by 4.7%.
Accordingly, gasoline inventories increased that week, gaining 1.7m bbl to reach 234m bbl. Analysts expected a build of 1.9m bbl.
Meanwhile, production rates and refinery utilisation was down.
Production dropped by 65,000 bbl/day to 8.820m bbl/day, while refinery utilisation lost 0.8 percentage points to a rate of 84.2%, 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.
Follow Anna on Twitter
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections