EIA: PADD 1 Gasoline Stocks Rise, Distillates Drop


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX (DTN) -- East Coast (PADD 1) gasoline inventories reported a 
build in the week ended March 6, while distillates and jet fuel stocks 
declined, according to data released by the U.S. Energy Information 
Administration on Wednesday (3/11).

   Motor gasoline stocks in PADD 1 rose by 200,000 bbl to 66.9 million bbl for 
the second consecutive week and were above 65.3 million bbl seen in the same 
week of last year. Gasoline imports on the East Coast declined by 35,000 bpd to 
338,000 bpd and were below the 483,000 bpd imported year-over-year.

   The hike in gasoline inventories was driven by weaker demand due to the 
severe weather that affected the East Coast in recent weeks.

   In the opposite direction, distillate fuel oil inventories in PADD 1 dropped 
by 200,000 bbl to 27.3 million bbl in the week ending March 6 and were lower 
than the 29.2 million bbl reported in the same period of last year. Distillate 
fuel oil imports averaged 144,000 bpd last week, 9,000 bpd down from what was 
recorded the previous week and 83,000 bpd below the volume seen in the same 
week last year.

   Jet fuel inventories in PADD 1 dropped for a second consecutive week, 
falling by 300,000 bbl to 8.4 million bbl in the week ending March 6 and were 
below the 9.2 million bbl recorded in the same period of last year. Imports of 
the same product in the region fell by 6,000 bpd to 20,000 bpd on a weekly 
basis and it was lower than 48,000 bpd imported the prior year.

   Refinery utilization in the profiled week rose slightly to 92.3% from 92.2% 
the prior week, the EIA data showed.

   Crude oil inventories on the East Coast fell by 1.1 million bbl to 8 million 
bbl week-over-week and were below 8.6 million bbl reported in the same period 
of previous year. Crude oil imports dropped by 228,000 bpd to 536,000 bpd and 
were above the 290,000 bpd recorded in the same week last year.

    

    




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