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.

 

27-Sept

4-Oct

11-Oct

18-Oct

 

Gasoline Stocks

219.7

219.9

217.3

215.5

m bbl

Gasoline consumption

8,527

8,846

9,077

8,797

bbl/d *

*Figures are in thousand bbl

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By: Anna Matherne
713-525-2653



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