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For Immediate Release: July 27, 2006
Media Contact: Rob Schlichting - 916-654-4989

Gasoline production rebounds,
inventories grow


Sacramento - A statewide heat wave unprecedented in the past 57 years didn't prevent local refineries from improving their production of California gasoline last week, according to the Weekly Fuels Watch Report issued today by the California Energy Commission

Production of California's gasoline blend averaged 925,429 barrels a day for the week ending July 21, 2006, a 13.8 percent increase over the unusually low production levels of the previous week. Production was 2.9 percent better than at this time last year.

Inventories of California gasoline increased 7.8 percent from the previous week but remain 8.3 percent lower than at this time a year ago. Inventories are about average when compared to totals over the past five years, and wholesale gasoline prices dropped slightly over the week as supplies improved.

Alaska North Slope crude oil prices retreated slightly from the record of $75.73 set on July 14, 2006. By July 21, 2006, the price per barrel for ANS had dropped $3.10, to $72.63. While the weekly retail price of regular gasoline across the nation rose by 1.4 cents to $3.00, California's retail average declined 2 cents, settling at $3.22 a gallon for the week ending July 24, 2006.

Production of California's Ultra Low Sulfur Diesel (ULSD) increased 8.0 percent over the previous week's output but was 6.6 percent lower than last year's diesel figures. While inventories of the California-only fuel dropped 4.7 percent from the previous week's, they remained much higher - 49.5 percent higher - than corresponding supplies one year ago.

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

www.energy.ca.gov/database/fore

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Editor's note:
The figures released today are preliminary and may change slightly over time. This summer the Energy Commission is also posting a weekly Petroleum Watch report, which provides useful background information on petroleum markets and California refineries. You can find the report on the Energy Commission's Web site at:

www.energy.ca.gov/consumerfuels

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