Media Contact: Rob Schlichting - 916-654-4989
Gasoline production,inventories climb in California
Sacramento - Supplies of gasoline for use in the state increased this week as California gasoline production climbed and inventories improved, according to the Weekly Fuels Watch Report issued today by the California Energy Commission.
Production of reformulated gasoline for use only in California averaged 951,857 barrels a day for the week ending April 7, 2006. That represents a 5.3 percent increase over the previous week. When compared to figures for this time last year, production was up even more -9.1 percent. Inventories of California gasoline improved 2.9 percent in comparison to the previous week, but were slightly less than one year ago, dropping 0.7 percent.
California diesel production jumped 14.8 percent over the previous week's output, although it was off 19.8 percent when compared to a year ago. CARB diesel inventories fell 3.9 percent for the week, but are still 24.2 percent more abundant than at this time last year.
Despite the good production news, wholesale and retail fuel prices continued to climb as crude oil prices set new records. Alaska North Slope crude, which makes up 21 percent of California's crude oil supply, sold yesterday for $67.18 a barrel, a new high. The previous high of $67.06 was set at the end of August 2005, when Hurricanes Katrina and Rita shut down oil and gas production in the Gulf of Mexico. One year ago, Alaska North Slope crude oil sold for $50.58 a barrel.
The entire Weekly Fuels Watch Report may be seen on the Energy Commission's Web site at
# # #