HOUSTON (ICIS)--US finished motor gasoline inventories and consumption rates fell for the week ended 14 March, the US Energy Information Administration (EIA) said on Wednesday.
Gasoline inventories dropped by 1.5m bbl to 222.3m bbl for that week.
Analysts expected to see a drop of approximately 2.5m bbl.
Consumption rates also decreased that same week, losing 4.9%, while gasoline production was 159,000 bbl/day higher at 9.362m bbl/day.
Meanwhile, refinery utilisation rates fell to 85.6% from 86.0% the week prior.
Imports of gasoline were 26,000 bbl/day higher at 421,000 bbl/day, while exports held steady at 576,000 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.
?xml:namespace> 21-Feb 28-Feb 7-Mar 14-Mar Gasoline Stocks 230.6 229.0 223.8 222.3 m bbl Gasoline consumption 8,535 8,535 8,949 8,512 bbl/d *
*Figures are in thousand bblFollow Anna on Twitter