27 February 2013 20:12 [Source: ICIS news]
HOUSTON (ICIS)--Gasoline consumption in the US moved higher, causing a drop in inventories for the week ended 22 February, a government agency said on Wednesday.
Finished motor gasoline consumption rates for the week ended 22 February were at 8.597m bbl/day, up by 160,000 bbl/day from the previous week, according to the US Energy Information Administration (EIA).
Year on year, gasoline consumption is up by 2%.
Higher consumption rates caused inventories to decline that same week. Gasoline inventories decreased by 1.9m bbl to 228.5m bbl, the EIA said. Analysts had predicted a drop of 1.5m bbl.
Gasoline production and refinery utilisation rates increased in the week ended 22 February.
Production rates were 300,000 bbl/day higher at 8.947m bbl/day, while refinery utilisation gained 2.2 percentage points to 85.1%.
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
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections