Lower US gasoline consumption leads to nearly 3% inventory gain

08 January 2014 21:01 Source:ICIS News

HOUSTON (ICIS)--US finished motor gasoline consumption rates fell for the week ended 3 January, causing inventories to rise, the US Energy Information Administration (EIA) said on Wednesday.

Gasoline inventories surged by 6.3m bbl to 227m bbl for that week.

Analysts expected to see an increase of approximately 2.5m bbl.

Meanwhile, refinery utilisation rates fell slightly to 92.3% from 92.4% the week prior.

Gasoline production declined to 8.782m bbl/day, a drop of 220,000 bbl/day.

Imports of the product were 132,000 bbl/day higher at 379,000 bbl/day, while exports held steady at 498,000 bbl/day.

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.

 

13-Dec

20-Dec

27-Dec

3-Jan

 

Gasoline Stocks

220.5

219.9

220.7

227.0

m bbl

Gasoline consumption

9,016

9,176

8,893

8,274

bbl/d *

*Figures are in thousand bbl

 
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By Anna Matherne