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For Immediate Release: June 21, 2006
Media Contact: Rob Schlichting - 916-654-4989

Gasoline inventories build,
retail prices slowly drop


Sacramento -Inventories of gasoline for use only in California increased this week, helping to bring down prices at the pump. In some areas of the state, retail prices have inched under the $3 mark, although the statewide average remains at $3.20 a gallon.

For the week ending June 16, 2006, California-only gasoline inventories rose 6.5 percent from the previous week. Those inventories remain 14.9 percent below last year's unusually high levels, according to the Weekly Fuels Watch Report issued today by the California Energy Commission.

Imports appear to have helped to boost gasoline inventories, since average production of CARB gasoline fell 3.9 percent from the previous week, to 933,429 barrels a day. That figure is 6.5 percent below last year's production.

California refiners are now making "Ultra Low Sulfur Diesel" (ULSD) that contains no more than 15 parts per million of sulfur. Production of the new Ultra Low Sulfur Diesel for California dropped 1.3 percent from last week, but was 15.6 percent higher than production of diesel for use in the state a year ago. Inventories of the cleaner-burning fuel fell 2.8 percent over the week but were 34.1 percent higher than inventories a year ago.

Today's entire Weekly Fuels Watch Report can be seen on the Energy Commission's Web site at

http://www.energy.ca.gov/database/fore/

This summer the Energy Commission is also posting a weekly version of its monthly Petroleum Watch, which provides useful background information on petroleum markets and California refineries. You can find the report on the Energy Commission's Web site by going to :

http://www.energy.ca.gov/consumerfuels/

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Editor's note:
The figures released today are preliminary and may change slightly over time.

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