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Gasoline production rises as
retail prices continue to drop
Sacramento - Gasoline production and inventories increased last week at California refineries as retail prices continued to slide, according to the Weekly Fuels Watch Report issued today by the California Energy Commission.
For the week ending Friday, September 22, 2006, production of California gasoline averaged 937,857 barrels a day, a 4.5 percent increase over the previous week but 1.0 percent below production at this time last year.
California gasoline inventories rose 9.6 percent from the previous week but are 4.6 percent below totals for a year ago. Retail prices for regular gasoline dropped nearly 9 cents statewide, averaging $2.76 a gallon for the week ending September 25, 2006. One year ago the statewide average for regular was $2.95 a gallon.
Production of California's Ultra Low Sulfur Diesel (ULSD) fell 11.1 percent for the week but was still 28.7 percent higher than last year's comparable output. Inventories of California ULSD were off slightly - 0.6 percent - from the previous week but are 22.7 percent higher than corresponding supplies this time last year. Retail prices of diesel fuel statewide fell 9 cents, averaging $2.91 a gallon for the week ending September 25, 2006. One year ago California diesel averaged $3.03 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:
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