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U.S.Economy: 
Gasoline Supplies Shrink
Author: Ivaylo Dagnev
123jump.com
Last Update: 6:00 AM EDT April 20 2006



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The U.S. Energy Department weekly report showed a decline in U.S. gasoline stocks, raising worries that refiners don''t have an adequate inventory cushion before the peak summer driving season. The decline, the seventh in a row, pushed gasoline stocks to 4.6 % below year-ago levels, their lowest level since November. Gasoline inventories typically decline at this time of year as refiners shut down their plants to perform maintenance before the summer driving season.

 
The following is the unedited transcript of the news release from the Energy Information Administration.



Summary of Weekly Petroleum Data for the Week Ending April 14, 2006

U.S. crude oil refinery inputs averaged over 14.7 million barrels per day during
the week ending April 14, up 146,000 barrels per day from the previous week's
average. Refineries operated at 86.2 percent of their operable capacity last
week. Gasoline production increased last week, averaging 8.1 million barrels
per day, while distillate fuel production increased slightly compared to the
previous week, averaging 3.6 million barrels per day.

U.S. crude oil imports averaged nearly 9.7 million barrels per day last week, up
126,000 barrels per day from the previous week. Over the last four weeks, crude
oil imports have averaged over 9.8 million barrels per day, a decrease of
310,000 barrels per day from the comparable four weeks last year. Total motor
gasoline imports (including both finished gasoline and gasoline blending
components) last week averaged 907,000 barrels per day, halting a streak of ten
weeks in which it had averaged over 1 million barrels per day. Distillate fuel
imports averaged 125,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) fell by 0.8 million barrels from the previous week. However,
at 345.2 million barrels, U.S. crude oil inventories remain well above the upper
end of the average range for this time of year. (Beginning this week, average
inventory ranges have been recalibrated with the next recalibration coming in
October.) Total motor gasoline inventories dropped by 5.4 million barrels last
week, and are now just above the lower end of the average range. Distillate
fuel inventories fell by 2.8 million barrels last week, but remain above the
upper end of the average range for this time of year. Almost the entire decline
was seen in low-sulfur distillate fuel (diesel fuel) inventories. Total
commercial petroleum inventories dropped by 5.8 million barrels last week, but
remain above the upper end of the average range for this time of year.

Total products supplied over the last four-week period has averaged nearly 20.6
million barrels per day, or 0.5 percent more than averaged over the same period
last year. Over the last four weeks, motor gasoline demand has averaged over
9.1 million barrels per day, or 0.8 percent above the same period last year.
Distillate fuel demand has averaged 4.1 million barrels per day over the last
four weeks, or 3.0 percent below the same period last year. Jet fuel demand is
up 1.2 percent over the last four weeks compared to the same four-week period
last year.




Available at:

http://www.eia.doe.gov/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/wpsr.html
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