CEC: Gasoline Stocks Dip in California, Diesel Stocks Jump
11/24 3:57 PM
CEC: Gasoline Stocks Dip in California, Diesel Stocks Jump CRANBURY, N.J. (DTN) -- Overall gasoline stocks in California eased slightly during the week-ended Nov. 19 while distillate stocks increased 10.2%, the California Energy Commission reported this afternoon. Total gasoline stocks edged 10,000 bbl lower to 6.128 million bbl, but a 406,000 bbl increase in gasoline inventory for out-of-state export to 1.495 million bbl obscured a 416,000 bbl draw in the state-specified gasoline mandated for the state, with CARBOB stocks at 4.633 million bbl down 11.5% against the comparable week in 2020. The diverging stock changes were realized as California refineries made 422,000 bbl or 7% less CARBOB gasoline for the week reviewed from the previous week with a 5.617 million bbl production rate, down 3% from year ago. Gasoline blending components stocks increased 70,000 bbl or 1.5% during the week profiled to 4.738 million bbl, down 8.4% year-on-year. Stocks of CARB specification diesel fuel increased 274,000 bbl to 2.022 million bbl during the week-ended Nov. 19, up 11.7% against year prior, while ULSD for out-of-state export increased 61,000 bbl to 1.611 million bbl, up 34.7% from the same week in 2020. The build in CARB ULSD coincided with a 254,000 bbl ramp up in production to 1.081 million bbl, while output of the out-of-state diesel fuel eased 233,000 bbl to 835,000 bbl. Jet fuel stocks in California increased 190,000 bbl to 2.984 million bbl last week, up 7.9% against year ago, with the build realized on higher production. California refineries produced 1.728 million bbl of jet fuel during the week reviewed, up 88,000 bbl on the week. (c) Copyright 2021 DTN, LLC. All rights reserved.