EIA: PADD 1 Gasoline Stocks Reach 4-Year High Last Week

EIA: PADD 1 Gasoline Stocks Reach 4-Year High Last Week


   EIA: PADD 1 Gasoline Stocks Reach 4-Year High Last Week

   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- East Coast (PADD 1) gasoline inventories climbed to 
their highest level in more than four years last week  during the week ended 
February 6,, while distillate stocks declined and jet fuel inventories edged 
lower as crude oil balances increased , according to U.S. Energy Information 
Administration data released Wednesday (2/11).

   Motor gasoline inventories in PADD 1 rose by 500,000 bbl to 67.4 million bbl 
during the reference week. The increase pushed gasoline stocks to their highest 
level since July 16, 2021, when inventories stood at 67.9 million bbl, EIA data 
showed. Gasoline inventories for the week in review were also 700,000 bbl above 
the level  reported in the corresponding week of the prior year.

   Distillate fuel oil inventories on the East Coast fell by 2.2 million bbl to 
29.1 million bbl on the week, and 900,000 bbl from the same week of the 
prior year.

   In contrast, jet fuel inventories in PADD 1 declined by 800,000 bbl to 8.9 
million bbl last week. This was 1 million bbl lower than the volume reported 
year-over-year, keeping annual balances tighter despite the weekly draw.

   Crude oil inventories in PADD 1 increased by 700,000 bbl to 7.9 million bbl 
during the profiled week and were 600,000 bbl lower than volumes recorded in 
the same week of the prior year.

   On the import side, crude oil imports into the East Coast dropped by 23,000 
bpd to 530,000 bpd during the reference week and were 34,000 bpd down from the 
same week last year.

   Motor gasoline imports rose by 14,000 bpd to 277,000 bpd and were 15,000 bpd 
above import volumes recorded in the same week of the prior year.

   Distillate fuel oil imports declined by 46,000 bpd to 134,000 bpd and were 
81,000 bpd below levels reported  year-over-year.

   The East Coast reported zero jet fuel imports, unchanged on the week and 
93,000 bpd below the volume seen in the same week of the prior year, EIA data 
showed.

   Retail gasoline prices on the East Coast were unchanged at $2.822 gallon in 
the week ended February 9, while remaining 22.8cts below levels seen during the 
same period of the prior year, EIA data released Tuesday showed.

    




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