EIA: PADD 2 Gasoline Hits 2026 Low; Distillate Falls


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Midwest (PADD 2) gasoline inventories declined in the 
week ended April 3, extending a downward trend, while distillate stocks also 
fell and crude oil inventories increased, according to U.S. Energy Information 
Administration data released Wednesday (4/8).

   Motor gasoline inventories in PADD 2 fell by 2.3 million bbl to 56.1 million 
bbl on the week, EIA data showed but remained above the 56.2 million bbl 
recorded in the corresponding week last year. The latest level is the lowest 
since the week ended January 2 of this year, when inventories stood at 53 
million bbl. No motor gasoline imports were recorded for the week, consistent 
with zero bpd in the prior week and compared to 19,000 bpd imported in the same 
week of the prior year.

   Distillate fuel oil inventories in the Midwest declined by 600,000 bbl on 
the week to 28.9 million bbl and were 1.2 million bbl below the level reported 
in the same week of the prior year. Distillate fuel oil imports averaged 4,000 
bpd, unchanged from the prior week and higher by 1,000 bpd from the level 
imported in the comparable week of last year.

   Jet fuel inventories in PADD 2 declined by 400,000 bbl to 7.6 million bbl on 
the week and were 200,000 bbl above the level recorded in the same week of the 
prior year.

   During the profiled week, PADD 2 jet fuel imports remained at zero bpd, 
unchanged week-over-week and year-over-year. The steady inventory level comes 
as Midwest jet fuel markets continue to face regional supply shifts, with 
stronger Gulf Coast (PADD 3) demand maintaining a pull on Midwest barrels.

   Crude oil inventories in PADD 2 increased by 600,000 bbl to 114.6 million 
bbl during the reference week and were 5.8 million bbl above volumes recorded 
in the corresponding week of the prior year.

   Crude oil imports into the Midwest averaged 3.094 million bpd during the 
reference week, compared with 2.828 million bpd the prior week and 2.909 
million bpd reported in the same week of the prior year.

   Refinery utilization in the Midwest rose to 88.6% of operable capacity from 
86.7% the prior week and was above the 84.3% recorded in the same week of the 
prior year, according to EIA data.

    




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