US gasoline consumption falls by 3.8%, inventories decline

01 May 2013 20:45  [Source: ICIS news]

HOUSTON (ICIS)--Gasoline consumption rates in the US for the week ended 26 April gave back nearly all its gains from the prior week, a government agency said on Wednesday.

Finished motor gasoline consumption rates for the week were at 8.415m bbl/day, a drop of 335,000 bbl/day, or 3.8% from the previous week, according to the US Energy Information Administration (EIA).

Last week’s EIA report showed a build of 367,000 bbl/day.

For the week ended 26 April, gasoline inventories shed 1.8m bbl to 216m bbl, a 0.8% week-on-week decline, the EIA said.

Analysts had predicted a drop of about 2.5m bbl in inventories.

Refinery utilisation rates declined by 0.9 percentage points to 84.4%.

Meanwhile, gasoline production was slightly higher, increasing by 48,000 bbl/day to a rate of 8.967m bbl/day, 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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