Total domestic gasoline stocks grew for the fourth straight week, according to new data from the Energy Information Administration (EIA). Stock levels increased by 3.4 million bbl, bringing the total to 229.4 million bbl, which is 3.1 million bbl higher than last year’s level at this same time. In EIA’s latest weekly report, gasoline demand dropped from 9.20 million b/d to 9.03 million b/d, which is slightly higher than last year’s 8.88 million b/d during the same week. Stock growth, amid robust demand, has helped to stabilize the national average. Since Monday, the national average for a gallon of regular unleaded gasoline has increased by a penny to $2.59.
Gas Stock Growth Continues to Help Stabilize National Average