06 March 2013 17:02 [Source: ICIS news]
HOUSTON (ICIS)--Both gasoline consumption and inventories in the US fell for the week ended 1 March, a government agency said on Wednesday.
Finished motor gasoline consumption rates for the week ended 1 March were at 8.364m bbl/day, down 233,000 bbl/day from the previous week, according to the US Energy Information Administration (EIA).
Year on year, gasoline consumption is up by 1.1%.
For that same week, gasoline inventories decreased by 600,000 bbl to 227.9m bbl, the EIA said. Analysts had predicted a drop of 1-1.3m bbl.
Gasoline production and refinery utilisation rates also dropped in the week ended 1 March.
Production rates were 200,000 bbl/day lower at 8.747m bbl/day, while refinery utilisation shed 2.9 percentage points to 82.2%, 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.
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