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Gasoline, diesel inventories up
despite soft production
Sacramento - Inventories of gasoline and diesel for use in California increased last week even as production of the fuels dipped slightly, according to the Weekly Fuels Watch Report issued today by the California Energy Commission.
Production of California-specific gasoline averaged 944,000 barrels a day for the week ending August 11, 2006. The figure represents a 7.0 percent decrease from the previous week but is only 0.6 percent lower than production at this time a year ago.
Even with softer production numbers, inventories of gasoline rose 2.8 percent from the previous week and are 0.3 percent higher than last year's levels. Some areas of the state noticed a slight decline in retail gasoline prices, although the statewide average for the week ending August 14, 2006 increased 2 cents to $3.21.
Production of California's Ultra Low Sulfur Diesel (ULSD) declined 5.4 percent from the week before but remains 14.3 percent better than comparable output a year ago. Inventories of California ULSD increased 1.4 percent for the week and are 37.4 percent higher than supplies a year ago. On August 14, statewide diesel prices averaged $3.27 a gallon.
Today's entire Weekly Fuels Watch Report can be seen on the Energy Commission's Web site at:
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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: