13 March 2013 16:47 [Source: ICIS news]
HOUSTON (ICIS)--Higher gasoline consumption in the US caused a fall in inventory levels for the week that ended on 8 March, a government agency said on Wednesday.
Finished motor gasoline consumption rates for the week were at 8.627m bbl/day, an increase of 263,000 bbl/day, or 3.1%, from the previous week, according to the US Energy Information Administration (EIA).
Year on year, gasoline consumption was up by 1.1%.
In the same week, gasoline inventories declined by 3.6m bbl to 224.3m bbl, a 1.6% week-on-week fall, the EIA said. Analysts had predicted a drop of 1.5m bbl.
Gasoline production and refinery utilisation rates also fell during the week.
Production rates were 106,000 bbl/day lower at 8.641m bbl/day, while refinery utilisation shed 1.2 percentage points to 81%, the EIA said.
Finished gasoline refers to the stage in the supply chain at which it reaches primary sources, such as blenders and terminals, before delivery to 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