EIA: PADD 3 Gasoline Stocks Dip, Hold Near 5-Year High


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. Gulf Coast (PADD 3) gasoline inventories dipped 
marginally to stand near five-year highs while jet fuel stocks declined amid a 
rise in distillates for the week ended January 16, according to Energy 
Information Administration data released Thursday (10/22).

   Motor gasoline inventories in the Gulf Coast region slid by 200,000 bbl to 
94.6 million bbl week over week. The prior week's balance of 94.8 million bbl 
marked the highest for PADD 3 gasoline stocks since the week ended January 17, 
2020. The latest gasoline balance was also well above the 90.8 million bbl 
stockpile seen for the same week a year earlier.

   The region reported gasoline imports of 8,000 bpd last week, versus 2,000 
bpd for the prior week. The region continued to report zero imports on both a 
weekly and year-over-year basis a year earlier.

   Jet fuel inventories on the Gulf Coast dipped by 1.2 million bbl to 13.5 
million bbl week over week and were 300,000 bbl lower than the same week from 
previous year.

   Distillate fuel oil stocks in PADD 3 rose by 800,000 bbl to 50.7 million bbl 
during the week ended January 16. This was an increase of 7.1 million bbl 
compared to the same period a year earlier, the EIA said.

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

   Refining utilization in PADD 3 was at 95.1%, down from the prior week's 
98.6%.

   Despite comfortable gasoline supplies reported in PADD 3 in recent weeks, 
the average retail prices for gasoline in the Gulf Coast rose by 2.2cts to 
$2.397 per gallon last week, remaining the most competitive value nationwide as 
the U.S. average was $2.806 per gallon in the same period, according to EIA 
data released Wednesday(1/22).

   Diesel retail prices for PADD 3 climbed by 8.8cts to average $3.248 per 
gallon last week and were 28.2cts below the nationwide average of $3.530 per 
gallon, reflecting the large increase in distillate stocks compared to the same 
period from previous year

    




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