US gasoline inventories fall by 0.4% on higher consumption

08 May 2013 17:18  [Source: ICIS news]

HOUSTON (ICIS)--Gasoline consumption rates in the US for the week ended 3 May had slight gains, causing a drop in inventory levels, a government agency said on Wednesday.

Finished motor gasoline consumption rates for the week were at 8.445m bbl/day, an increase of 30,000 bbl/day, or 0.4% from the previous week, according to the US Energy Information Administration (EIA).

For the same week, gasoline inventories shed 900,000 bbl to 215.1m bbl, a 0.4% week-on-week decline, the EIA said.

Meanwhile, refinery utilisation rates gained 2.6 percentage points to 87%.

However, gasoline production was lower, falling by 184,000 bbl/day to a rate of 8.783m 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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