18 September 2013 23:54 [Source: ICIS news]
Correction: In the ICIS story headlined "Higher US gasoline consumptions leads to lower inventories" dated 18 September 2013, please read in the chart for 13 September for gasoline consumption ... "9,028" ... instead of ... "9,031". A corrected chart follows:
HOUSTON (ICIS)--US gasoline consumption rates increased by nearly 5%, causing a drop in inventories for the week ended 13 September, a government agency said on Wednesday.
Gasoline consumption rose by 423,000 bbl/day to a rate of 9.028m bbl/day, according to the US Energy Information Administration (EIA).
Accordingly, inventories of the product fell by 1.6m bbl to 216m bbl for the week ended 13 September.
Analysts had predicted an increase of 1.3m bbl in gasoline inventories.
However, gasoline inventories are 19.7m bbl higher compared with the same time last year, when the EIA showed inventories at 196.3m bbl.
Meanwhile, production rates were 150,000 bbl/day higher at 9.031m bbl/day, while imports gained 91,000 bbl/day to reach 492,000 bbl/day for the week ended 13 September.
US refinery utilisation rates held steady at 92.5% for that same week.
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.
?xml:namespace> 23-Aug 30-Aug 6-Sept 13-Sept Gasoline Stocks 217.8 216.0 217.6 216.0 m bbl Gasoline consumption 9,031 9,094 8,605 9,028 bbl/d * *Figures are in thousand bbl
*Figures are in thousand bbl
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