EIA: PADD 2 Gasoline Stocks Climb to 8-Mo High Last Week


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Midwest (PADD 2) gasoline inventories increased last 
week, while distillate inventories declined and jet fuel stocks also edged 
higher in the week ended December 26, according to Energy Information 
Administration data released Tuesday (12/30).

   Motor gasoline inventories in the Midwest amounted to 50.6 million bbl last 
week, rising from the prior week and reaching the highest level reported since 
the week ended May 2, when stocks stood at 51.5 million bbl, EIA data showed. 
Stocks remained modestly below the same period a year earlier, reflecting a 
still tighter year over year balance despite recent builds. The inventory 
increase coincided with softer seasonal demand across the region, improving 
near term supply coverage. Retail prices reflected the steadier supply 
backdrop, with Midwest gasoline prices edging up 0.1ct to average $2.606 gallon 
in the week ended December 29, standing 26.9cts below the same period last year.

   Distillate fuel oil stocks in PADD 2 declined by 200,000 bbl to 25.9 million 
bbl during the reference week, reversing part of the prior week's build and 
leaving inventories below the 27.2 million bbl reported in the same week last 
year. The tighter stock position persisted as winter demand remained elevated 
across northern markets. Retail diesel prices eased alongside the inventory 
draw, with Midwest diesel prices dropping 5.9cts to average $3.424 gallon in 
the week ended December 29. Even with the weekly decline, Midwest diesel prices 
stood 4.5cts lower than the same week last year.

   Jet fuel inventories in the Midwest increased by 200,000 bbl to 8.1 million 
bbl, up from  7.9 million bbl the prior week and 7.3 million bbl in the same 
week last year, adding to supply coverage following earlier seasonal draws.




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