Total US petroleum deliveries slipped by 1.3% in March of this year compared to last year however, gasoline deliveries were up 3%. This is the second month this year where such events have happened.
John Felmy comments
‘The mixed demand picture shows the economy is still labouring to move forward, reflecting relatively weak employment conditions,’ said API Chief Economist John Felmy. ‘However, the rise in gasoline demand occurred in spite of higher gasoline prices, which actually pushed down demand for reformulated gasoline used in urban areas and encouraged more use of public transit.’
US gasoline production of 9.3 million bpd setting a record for any March and for any comparable year to date period. Distillate fuel production at 4.4 million bpd also set March and year to date records.
Refinery utilisation increased in March, compared with March a year ago. Total refinery outputs rose 2.3% in March.
Exports of refined petroleum products increased 2.6%. Imports of crude and refined products fell in March by 6.6% to 10.6 million bpd.
Adapted from a press release by Claira Lloyd
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