EIA: PADD 2 Gasoline Stocks Climb to 9-Mo High Last Week


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Midwest (PADD 2) gasoline inventories increased last 
week, while distillate inventories also rose and jet fuel stocks were unchanged 
in the week ended January 2, according to Energy Information Administration 
data released Wednesday (1/7).

   Motor gasoline inventories in the Midwest rose by 3.8 million bbl 
week-over-week to 49 million bbl, reaching the highest level reported since the 
week ended April 18, EIA data showed. Inventories were slightly above the 48.8 
million bbl reported in the same week last year but remained below levels seen 
two years ago. The build reflected seasonal demand softness and improved 
near-term supply coverage across the region. Retail prices tracked the steadier 
inventory backdrop, with Midwest gasoline averaging $2.585 gallon in the week 
ended Jan. 5, down by 2.1cts on the week and standing 35.3cts below the same 
period last year.

   Regional distillate fuel oil inventories in PADD 2 increased by 2.1 million 
bbl to 29.4 million bbl during the reference week, remaining below the 33.1 
million bbl held in the same week last year. Despite the build, inventories 
continued to trail levels a year earlier as winter demand remained elevated 
across northern markets. Retail diesel prices eased alongside the inventory 
increase, with Midwest diesel averaging $3.387 gallon in the week ended Jan. 5, 
down by 3.7cts on the week and 14.3cts lower than the same week last year.

   Jet fuel inventories in the Midwest were unchanged on the week at 7.6 
million bbl, compared with 7.0 million bbl in the same week last year, 
maintaining supply coverage following earlier seasonal draws.

    




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