EIA: PADD 3 Gasoline Stocks Record 6th Straight Weekly Draw


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. Gulf Coast gasoline inventories declined for a 
sixth consecutive week, while distillate and jet fuel stocks rose in the week 
ended February 13, Energy Information Administration data showed on Thursday 
(2/19). 

   Motor gasoline inventories in the Gulf Coast region fell by 2.6 million bbl 
to 89.6 million bbl last week, the EIA's Weekly Petroleum Status Report for the 
week ended February 13 showed. Year-on-year, gasoline stocks in the PADD 3 
region were down 6.6 million bbl.

   The weekly gasoline stockpile drop came on the back of a slight rise in 
refining utilization as the maintenance season for fuel processing plants in 
the United States began declining from the peaks.

   Refining utilization in the Gulf Coast rose to 90.4% from 89.2% in the prior 
week, according to EIA data.

   There were also no imports of gasoline into the region, compared to the 
previous week's intake of 1,000 bpd and the 16,000 bpd import a year ago.

   PADD 3 crude imports fell by 211,000 bpd to 1.502 million bpd on the week 
but remained 494,000 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 100,000 bbl to 14 million bbl last week 
and were 700,000 bbl up year-over-year.

   Distillate fuel oil inventories in the same region rose by 150,000 bbl to 
48.8 million bbl during the week profiled, and they were 10.8 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 0.6cts 
to $2.482 gallon last week but remained below the national average for retail 
regular gasoline of $2.924 gallon, according to EIA data released Wednesday 
(2/18).

   Meanwhile, retail prices for diesel in PADD 3 fell 3.5cts on a weekly basis 
to $3.412 gallon, lower than the $3.711 gallon nationwide average retail price 
reported last week.




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