US gasoline consumption drops 3.1% despite inventory decline

23 October 2013 17:29  [Source: ICIS news]

HOUSTON (ICIS)--US gasoline consumption rates declined for the week ended 18 October despite a drop in inventories, the US Energy Information Administration (EIA) said on Wednesday.

Finished motor gasoline consumption rates fell by 280,000 bbl/day to 8.797m bbl/day.

For that same week, inventories of the product fell by more than expected, dropping 1.8m bbl to 215.5m bbl.

Analysts expected a decline of about 1m bbl in inventories.

However, inventories are still 8.5% higher year on year when the EIA reported stockpiles at 198.6m bbl for the week ended 19 October 2012.

Meanwhile, gasoline production rates were also weaker, losing 148,000 bbl/day to 8.906m bbl/day.

Imports were 146,000 bbl/day lower at 438,000 bbl/day, while exports held steady at 373,000 bbl/day for the week ended 18 October.

US refinery utilisation rates lost 0.3 percentage points to 85.9% 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.







Gasoline Stocks





m bbl

Gasoline consumption





bbl/d *

*Figures are in thousand bbl

Follow Anna on Twitter

By: Anna Matherne

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly