EIA: PADD 3 Gasoline Stocks Expand to 4-Month High


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX (DTN) -- U.S. Gulf Coast (PADD 3) gasoline inventories recorded 
a fourth-month high, along with an increase in distillate fuel oil and jet fuel 
stocks during the week ended December 12, according to Energy Information 
Administration data released Wednesday (12/17).

   Motor gasoline inventories in the Gulf Coast region were 87 million bbl in 
the profiled week, which is 300,000 bbl higher than the volume reported in the 
prior week and the highest since July 25 when it was at 87.03 million, EIA data 
showed. This was also a 5.7 million bbl increase from the same week last year. 
Gasoline imports in the region amounted to 10,000 bpd in the reference week 
compared to zero imports last week, but they were 4,000 bpd higher in the same 
week of the prior year.

   PADD 3, the main U.S. refining hub, also saw a build in distillate fuel oil 
stocks by rising 700,000 bbl to 46.4 million bbl week-over-week. Distillate 
inventories were also 7.9 million bbl higher than the same volume reported 
annually, the EIA reported.  

   Jet fuel inventories on the Gulf Coast also jumped by 1.3 million bbl to 
14.3 million bbl in the week ended December 12 and were up 2.6 million 
year-over-year.

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

   Abundant supplies and sluggish seasonal demand continued adding pressure on 
PADD 3 gasoline prices which were little changed last week, edging down just 
0.1cts to average $2.492 gallon in the week ended December 15, according to 
EIA. This left PADD 3 prices about 40.3cts below the nationwide average, which 
fell by 4.5cts to $2.895 gallon.

   In the same period, diesel retail average prices dropped by 6cts to average 
$3.267 gallon las week; this was about 34cts lower than the nationwide average 
of $3.607 gallon.




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