US gasoline inventories gain 1.2% on drop in consumption

12 June 2013 17:01  [Source: ICIS news]

HOUSTON (ICIS)--US gasoline inventories increased as consumption rates fell for the week ended 7 June, a government agency said on Wednesday.

Gasoline inventories increased by 2.7m bbl to 221.5m bbl, a 1.2% week-on-week gain, the EIA said, according to the US Energy Information Administration (EIA).

Analysts had predicted a drop of 500,000 bbl in gasoline inventories.

For the same week, finished motor gasoline consumption rates for the week ended 7 June were at 8.648m bbl/day, a decrease of 174,000 bbl/day, or 2% from the previous week.

Higher production rates and imports also contributed to the increase in inventories.

Production rates were 164,000 bbl/day higher at 9.359m bbl/day, while imports gained 178,000 bbl/day to reach 692,000 bbl/day.

Meanwhile, refinery utilisation rates fell by 0.9 percentage points to 87.5%.

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.

 

17-May

24-May

31-May

7-June

 

Gasoline Stocks

220.7

219.2

218.8

221.5

m bbl

Gasoline consumption

8,790

8,956

8,822

8,648

bbl/d *

* figures in thousand bbl

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By: Anna Matherne
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