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.
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