US gasoline inventories drop 1.2%, consumption rates up 2.6%

21 October 2013 17:09  [Source: ICIS news]

HOUSTON (ICIS)--US gasoline inventories declined while consumption rates increased for the week ended 11 October, the US Energy Information Administration (EIA) said as it restarted their releases on Monday after being closed during the government shutdown.

Another report for last week will be issued as normal on Wednesday.

Gasoline consumption increased by 231,000 bbl/day to 9.077m bbl/day for the week ended 11 October, the EIA said.

For that same week, inventories of the product fell by 2.6m bbl to 217.3m bbl.

However, gasoline inventories are 10.2% higher than the 197.1m bbl reported for the same time one year ago.

Meanwhile, gasoline production rates were 95,000 bbl/day higher at 9.054m bbl/day, while imports gained 8,000 bbl/day to reach 584,000 bbl/day for the week ended 11 October.

US refinery utilisation rates gained 0.2 percentage points to 86.2% 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.







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*Figures are in thousand bbl

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By: Anna Matherne

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