EIA: PADD 3 Gasoline Stock Up 2nd Straight Wk to 5-Yr High


   
Maria Eugenia Garcia
DTN Managing Editor

   HOUSTON, TX (DTN) -- U.S. Gulf Coast (PADD 3) gasoline inventories rose a 
second consecutive week to reach 5-year highs while distillate and jet fuel 
stocks reported draws during the week ended January 9, according to Energy 
Information Administration data released Wednesday (1/7).

   Motor gasoline inventories in the Gulf Coast region rose by 1.5 million bbl 
to 94.8 million bbl week-over-week. This is the highest build since January 17, 
2020, when PADD 3 gasoline stockpiles were at 95.307 million bbl, the same data 
showed. The latest gasoline balance was also above the 87.3 million bbl seen 
for the same week of last year.

   The region reported gasoline imports of 2,000 bpd last week, above zero 
imports seen last week and flat year-over-year.

   Jet fuel inventories on the Gulf Coast dipped by 1.3 million bbl to 14.7 
million bbl week-over-week and were 1.2 million bbl above the same week of the 
prior year.

   Distillate fuel oil stocks in PADD 3 fell by 200,000 bbl to 49.9 million bbl 
during the week ended January 9. This was a yearly increase of 4.9 million bbl, 
the EIA reported.

   As a net exporter of distillates and jet fuel, USGC PADD 3 does not report 
imports of those products.

   Refining utilization in PADD 3 was at 98.6%, unchanged from the prior week.

   Despite abundant gasoline supplies reported in PADD 3 in recent weeks, the 
average retail prices for gasoline in the Gulf coast rose by 0.3cts to $2.375 
gallon last week, remaining the most competitive value nationwide as the U.S. 
average was $2.779 gallon in the same period, according to EIA data released 
Tuesday (1/13).

   Diesel retail prices for PADD 3 fell by 1.2cts to average $3.160 gallon last 
week and were 31.6cts below the nationwide average of $3.459 gallon, reflecting 
the large year-on-year build in distillates stocks.




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