EIA: PADD 1 Gasoline Stocks Fall First Time in 3 Weeks


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- East Coast (PADD 1) gasoline inventories fell for the 
first time in three weeks in the week ended March 13, while distillates and jet 
fuel stocks increased, according to data released by the U.S. Energy 
Information Administration on Wednesday (3/18).

   Motor gasoline stocks in PADD 1 fell by 3.5 million bbl to 63.4 million bbl 
after rising the previous two weeks and were above 62.9 million bbl seen in the 
same week of last year. Gasoline imports on the East Coast declined by 99,000 
bpd to 239,000 bpd and were below the 503,000 bpd imported year-over-year.

   In the opposite direction, distillate fuel oil inventories in PADD 1 rose by 
300,000 bbl to 27.6 million bbl in the week ending March 13 and were below the 
28.3 million bbl reported in the same period of last year. Distillate fuel oil 
imports averaged 167,000 bpd last week, up 23,000 bpd from the level recorded 
the previous week, but 59,000 bpd below the volume seen in the same week last 
year.

   Jet fuel inventories in PADD 1 increased for the first time in three weeks, 
rising by 700,000 bbl to 9.1 million bbl in the week ending March 13 and were 
below the 10 million bbl recorded in the same period of last year. Imports of 
the same product in the region increased by 2,000 bpd to 22,000 bpd on a weekly 
basis but were below 113,000 bpd imported the prior year.

   Refinery utilization in the profiled week decreased to 87.8% from 92.3% the 
prior week, the EIA data showed.

   Crude oil inventories on the East Coast rose by 400,000 bbl to 8.4 million 
bbl week-over-week and were unchanged from the same period of previous year. 
Crude oil imports increased by 162,000 bpd to 374,000 bpd and were below the 
413,000 bpd recorded in the same week last year.




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