17 April 2013 21:57 [Source: ICIS news]
HOUSTON (ICIS)--Both gasoline inventories and consumption rates in the US fell for the week ended 12 April, a government agency said on Wednesday.
Finished motor gasoline consumption rates for the week were at 8.383m bbl/day, a drop of 94,000 bbl/day or 1.1% from the previous week, according to the US Energy Information Administration (EIA).
Year on year, gasoline consumption was down by 3.3%.
For the same week, gasoline inventories shed 700,000 bbl to 221.7m bbl, a 0.3% week-on-week decline, the EIA said.
Analysts had predicted a drop of about 500,000 bbl in inventories.
Furthermore, production and utilisation rates also fell for the week ended 12 April.
Gasoline production dropped by 42,000 bbl/day to 8.890m bbl/day.
Refinery utilisation lost the 0.5 percentage points it previously gained, falling back to the 29 March rate of 86.3%, 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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