EIA: PADD 2 Gasoline Stocks Remain Near 2-Year High
3/04 11:17 AM
EIA: PADD 2 Gasoline Stocks Remain Near 2-Year High
Miguel E. Andujar
DTN Energy Editor
DAVENPORT, FL (DTN) -- Midwest (PADD 2) gasoline inventories held steady
last week near a two-year high during the week ended February 27, while
distillate stocks edged higher and crude oil balances increased, according to
U.S. Energy Information Administration data released Wednesday.
Motor gasoline inventories in PADD 2 were unchanged on the week at 61.1
million bbl, keeping stocks near their highest level since the week ended
February 02, 2024, when inventories reached 61.6 million bbl, EIA data showed.
Compared with the corresponding week last year, gasoline inventories were
700,000 bbl above the 60.4 million bbl recorded during the same period. Total
motor gasoline imports averaged 10,000 bpd, up from 2,000 bpd the previous week
but below 21,000 bpd recorded in the corresponding week of the prior year.
Distillate fuel oil inventories in the Midwest increased by 100,000 bbl to
28.9 million bbl on the week and were 5.5 million bbl below the 34.4 million
bbl reported in the same week of the prior year. Distillate fuel oil imports
averaged 10,000 bpd, up from 4,000 bpd the previous week and above 9,000 bpd
reported in the same week of the prior year.
Jet fuel inventories in PADD 2 declined by 100,000 bbl to 7.8 million bbl on
the week. Stocks were 100,000 bbl below volumes recorded in the same week of
the prior year. During the profiled week, PADD 2 jet fuel imports were zero,
week-over-week and year-over-year.
Crude oil inventories in PADD 2 increased by 1.1 million bbl to 108.3
million bbl during the profiled week and were 1.4 million bbl below volumes
recorded in the corresponding week of the prior year. Crude oil imports into
the Midwest averaged 3.190 million bpd during the reference week, up from 3.049
million bpd the prior week and above 3.062 million bpd reported in the same
week of the prior year.
Refinery utilization in the Midwest rose to 92.7% of operable capacity from
86.1% the prior week and was above the 91.5% recorded in the same week of the
prior year, according to EIA data.
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