EIA: PADD 2 Gasoline Stocks Near 11-Mo High


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Midwest gasoline inventories reached their highest 
levels in nearly 11 months last week as jet fuel stockpiles rose too amid 
declines in distillate balances, Energy Information Administration data 
released Wednesday (1/28) showed.

   Total motor gasoline inventories in the PADD 2 region rose by 1.1 million 
bbl to 60 million bbl during the week ended January 23, the EIA said in its 
Weekly Petroleum Status Report.

   With that climb, Midwest gasoline supply reached its highest stock levels 
since the week ended March 7, when inventories stood at 60.1 million bbl.

   The latest weekly gasoline balance was also 3.9 million bbl above the level 
reported in the same week last year, reflecting demand softness from reduced 
winter driving and ample supply.

   Distillate fuel oil inventories in PADD 2 declined by 200,000 bbl to 32 
million bbl during the profiled week. Stocks were 2.6 million bbl below the 
same week last year, helped conversely by winter heating demand that pressured 
year-on-year balances.

   Jet fuel inventories in the Midwest rose by 100,000 bbl to 7.8 million bbl 
from the prior week. Current levels were 400,000 bbl higher than the same week 
last year, indicating adequate supply after earlier draws.

   Crude oil inventories in the Midwest declined by 500,000 bbl to 108 million 
bbl during the reference week. These levels were 5.2 million bbl higher than 
levels cited the same week in the previous year.

   On the supply side, crude oil imports in PADD 2 averaged 2.8 million bpd 
during the week ended January 23, declining from the prior report and was down 
100,000 bpd from the same week last year.

   Motor gasoline imports into the region dropped to 5,000 bpd, a decline of 
2,000 bpd on the week and 37,000 bpd below levels cited the same week of last 
year.

   Distillate fuel oil imports into the PADD 2 rose 7,000 bpd on the week to 
30,000 bpd and was down 5,000 bpd from last year. There were no jet fuel 
imports for the week, EIA data showed.

   The shift in PADD 2 gasoline and distillates balances came amid higher 
weekly retail prices reported for both by the EIA.

   Retail gasoline in the Midwest rose by 4.5cts to $2.693 gallon last week, 
standing 11cts below the national average of $2.806 gallon. Diesel climbed 
13.4cts on the week to $3.378 gallon, compared with the national average of 
$3.53 gallon.

    




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