US Gulf coast gasoline values firmed as nationwide inventories posted the largest weekly stockdraw in more than a year.Gulf coast values rose by 1.2￠/USG to nearly $2.20/USG in the week to 15 April after EIA data showed a 7.7mn bl fall in gasoline inventories in the week to 5 April.Inventories are around 10mn bl below where they stood at the same time last year,and gasoline margins have firmed to their strongest this year as outright values have outstripped the crude complex.A sharp increase in domestic consumption and steep falls in US Atlantic and west coast gasoline inventories contributed to the stockdraw.Implied domestic gasoline demand has increased by 7.4pc to 9.8mn b/d,the highest since late August last year,with the peak summer driving period drawing near.
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