Today’s AAA National Average $2.857

Price as of 8/15/18

Demand and Inventory on the Up and Up

Demand and Inventory on the Up and Up

January 11,2018

The Energy Information Administration’s (EIA) first 2018 petroleum status report showed that despite gasoline demand increasing to 8.8 million b/d on the week, gasoline inventories bubbled up by 4.1 million bbl to measure at 237 million bbl nationally. Total gasoline inventories in the U.S. are now just over 3 million bbl below inventory levels at the same time last year, yet they are 3.4 million bbl above the five-year average. Much of the growth can be attributed to total U.S. refinery utilization holding above 95% last week. However, the high run rate is likely to drop in the coming weeks as demand is expected to drop — impacting how much gasoline is produced — and planned maintenance at some refineries begins.