EIA: PADD 2 Gasoline Stocks Hit 2-Year High


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Midwest (PADD 2) gasoline inventories climbed to 
their highest level in two years during the week ended February 6, while 
distillate stocks declined and crude oil balances increased, according to U.S. 
Energy Information Administration data released Wednesday (2/11).

   Motor gasoline inventories in PADD 2 increased by 1.1 million bbl to 60.1 
million bbl during the reference week, lifting stocks to their highest level 
since the week ended February 2, 2024, when inventories reached 61.6 million 
bbl, EIA data showed. Compared with the corresponding week last year, gasoline 
inventories were up 3.3 million bbl from 56.8 million bbl.

   Distillate fuel oil inventories in the Midwest fell by 1.5 million bbl to 
29.3 million bbl on the week and were 4.7 million bbl below the 34 million bbl 
reported in the same week of the prior year.

   Jet fuel inventories in PADD 2 declined by 500,000 bbl to 7.9 million bbl. 
Stocks were 200,000 bbl above volumes recorded in the same week of the prior 
year.

   Crude oil inventories in PADD 2 increased by 700,000 bbl to 106.5 million 
bbl during the profiled week and were 3.8 million bbl above volumes recorded in 
the corresponding week of the prior year.

   On the import side, crude oil imports into the Midwest averaged 1.652 
million bpd during reference week, up from 1.569 million bpd the prior week and 
above 1.505 million bpd reported in the same week of the prior year. Motor 
gasoline imports averaged 81,000 bpd, up from 64,000 bpd the previous week and 
above 71,000 bpd recorded in the corresponding week of the prior year. 
Distillate fuel oil imports averaged 29,000 bpd, down from 36,000 bpd the 
previous week and below 42,000 bpd reported in the same week of the prior year, 
while jet fuel imports were unchanged at zero bpd.

   The Midwest reported zero jet fuel imports, unchanged on the week and flat 
compared with the same week of the prior year.

   Refinery utilization in the Midwest increased to 94.5% of operable capacity 
from 92.4% the prior week, reflecting strong processing rates across the region.

   Retail gasoline prices in the Midwest increased by 3.8cts to $2.688 gallon 
in the week ended February 9, while remaining 29.7cts below levels seen during 
the same period of the prior year, EIA data released Tuesday showed. Midwest 
diesel prices slid 0.2cts to $3.377 gallon and were 1.6cts below prices from 
the corresponding period of the prior year.




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