EIA: PADD 3 Gasoline Stocks Record 5th Straight Weekly Draw


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX (DTN) -- U.S. Gulf Coast (PADD 3) gasoline inventories declined 
for a fifth straight week, while distillate and jet fuel stocks rose in the 
week ended February 6, Energy Information Administration data showed on 
Wednesday (2/11). 

   Motor gasoline inventories in the Gulf Coast region fell by 100,000 bbl to 
92.2 million bbl last week, for the fifth consecutive week, but they were 5.3 
million below compared to the same week the previous week.

   The weekly gasoline stocks drop in PADD 3 was driven by lower refining 
utilization due to unplanned outages resulting from a winter storm and the 
start of seasonal maintenance.

   Refining utilization in PADD 3 fell to 89.2% from 92.2%, according to EIA 
data.

   Despite lower motor gasoline supplies, the region imported 1,000 bpd of the 
product in the week ended February 6, down from 34,000 bpd seen the prior week, 
and 28,000 bpd down from the volume reported in the same week last year. 

   PADD 3 crude imports rose by 588,000 bpd to 1.7 million bpd on week and was 
593,000 bpd higher than the same week of last year, due in part to increasing 
imports of Venezuelan crude into the region.

   Jet fuel stocks in PADD 3 climbed by 1.3 million bpd to 13.9 million bbl 
last week and were 200,000 bbl up year-over-year.

   Distillate fuel oil inventories in the same region rose by 600,000 bbl to 50 
million bbl during the week profiled, and they were 1.4 million higher than the 
volume reported in same period of last year, EIA data showed.

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

   The average retail prices for gasoline in the Gulf Coast climbed by 3.2ctsto 
$2.476 gallon last week but remained below the national average for retail 
regular gasoline of $2.902gallon, according to EIA data released Tuesday (2/10.

   Meanwhile, retail prices for diesel in PADD 3 edged down by 0.2cts on a 
weekly basis to $3.377 gallon, lower than the $3.688 gallon nationwide average 
retail price reported last week.

    




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