EIA: PADD 3 Gasoline Stocks Hit 11-Mo High Last Week


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX (DTN) -- U.S. Gulf Coast (PADD 3) gasoline inventories hit an 
11-month high last week, while distillates inventories also increased and jet 
fuel stock declined in the week ended December 19, according to Energy 
Information Administration data released late Monday (12/29).

   Motor gasoline inventories in the Gulf Coast region amounted to 88.1 million 
bbl last week, 1.1 million bbl higher than the prior week and the highest 
volume reported since January 31 when it was at 87.03 million, EIA data showed. 
This was also up by 5.2 million bbl compared to the same week last year. 
Gasoline imports in the region amounted to 10,000 bpd in the reference week 
compared to zero imports last week, but they were higher by 4,000 bpd in the 
same week of the prior year.

   Distillate fuel oil stocks in PADD 3 climbed by 2.1 million bbl to 48.5 
million bbl week-over-week. Inventories of the same products were 10.1 million 
bbl above year-over-year, the EIA reported.

   In contrast, jet fuel inventories on the Gulf Coast dropped by 100,000 bbl 
to 14.2 million bbl on a weekly basis and were flat year-over-year.

   As a net exporter of distillates, gasoline and jet fuel, USGC PADD 3 did not 
report imports of those products.

   Low demand during the winter season and a higher refinery utilization 
reported at 97.01% in the week ended December 19, compared to 96.4% the prior 
week, contributed to a record build in PADD 3.

   Oversupplied fuel storages in the USGC also translated into the lowest 
gasoline and diesel retail prices reported nationwide last week.

   Gasoline produced in PADD 3 declined by 5.3cts from the previous week, 
maintaining its position as the most affordable area for fuel in the nation and 
it was 42.1cts below the national average of $2.811 gallon, according to EIA 
data released Tuesday (12/30).

   Diesel retail prices dropped by 3cts to average $3.184 gallon last week; 
this was about 32cts below the nationwide average of $3.50 gallon.




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