If you believe four-week average figures published by DOE, then gasoline demand is actually up 0.1% from last year. Most marketers don't believe the stats portray an accurate trend, however. There is widespread accord that the refining picture is properly represented. Refiners lopped another 1.9% off utilization, and there is about 3.5 million b/d of capacity on the shelf. The largest decline was at the Gulf Coast. Gasoline production fell by 187,000 b/d to 8.492 million b/d, or less than the nadir of the turnaround seasons of 2007 and 2008. Imports surged, even as reports told of fewer cargoes that made economic sense to move to the U.S. The difference that accounts for a robust 1.3 million b/d import number this year is that cargoes are moving to the Gulf and West Coasts.
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