US gasoline consumption drops 3.5%, inventories down 0.7%

20 March 2013 18:41  [Source: ICIS news]

HOUSTON (ICIS)--Both gasoline inventories and consumption rates in the US fell for the week ended 15 March, a government agency said on Wednesday.

Finished motor gasoline consumption rates for the week were at 8.324m bbl/day, a decrease of 303,000 bbl/day, or 3.5%, from the previous week, according to the US Energy Information Administration (EIA).

However, year on year, gasoline consumption was up by 1.5%.

For the same week, gasoline inventories declined by 1.5m bbl to 222.8m bbl, a 0.7% week-on-week fall, the EIA said. Analysts had predicted a drop of 2.6m bbl.

Gasoline production also fell during the week. Production rates were 12,000 bbl/day lower at 8.629m bbl/day

Meanwhile, refinery utilisation gained 2.5 percentage points to 83.5%, 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.

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By: Anna Matherne

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