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Refinery production falls, but
inventories remain higher than last year
Sacramento - Production of gasoline and diesel at in-state refineries fell last week, tightening the market and causing spot prices for California-use gasoline to jump 22 cents between April 10 and April 17, 2006. Although inventories of fuel remained higher than at this time last year, planned maintenance and unplanned outages accounted for the drop reported in the Weekly Fuels Watch Report issued today by the California Energy Commission.
Production of California reformulated gasoline averaged 854,286 barrels a day for the week ending April 14, 2006, a 10.3 percent drop from the previous week and a 9.1 percent decline from last year's production levels. Refinery inventories of reformulated gasoline fell 8.8 percent from the previous week, but were 1.0 percent better than last year's levels.
Some refiners switched production from California reformulated gasoline to gasoline supplied to other states like Arizona, Nevada, or Oregon. Supplies of this other finished gasoline increased by 38.5 percent for the week. Including those barrels destined for export in the tally improved the overall gasoline production picture, resulting in a 3.8 percent drop from the previous week.
Production of California diesel dropped 4.6 percent from the week before, a 7.1 percent decrease from last year's figures. Inventories of California diesel, on the other hand, increased by a slight 0.8 percent from the week before and remain 25.2 percent above last year's totals. This year's higher diesel inventories reflect the
The entire Weekly Fuels Watch Report may be seen on the Energy Commission's Web site at
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