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Gasoline production continues above
1 million gallons a day as prices still fall
Sacramento - For the third straight week, production of gasoline for use in California topped a million barrels a day, according to the Weekly Fuels Watch Report issued today by the California Energy Commission.
Production of California gasoline averaged 1,031,857 barrels a day for the week ending October 13, 2006, an increase of 1.4 percent from the previous week and 16.5 percent better than last year's output. Inventories fell slightly over the week - just 0.7 percent - but were 11.9 percent higher than a year ago. Refiners usually stockpile inventories this time of year during "turnaround" season - periods of major maintenance when production may be dampened.
Meanwhile, retail gasoline prices continued their decline for the ninth week in California. Regular dropped another 6 cents at the pump, averaging $2.54 a gallon for the week ending October 16, 2006.
Production of California's Ultra Low Sulfur Diesel (ULSD) dropped 11.0 percent from the week before but was an impressive 45.3 percent above last year's production. ULSD inventories fell 13.3 percent over the week but remained 45.2 percent more abundant than comparable supplies a year ago. The statewide price of diesel dropped 5 cents to $2.70 a gallon for the week ending October 16, 2006.
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 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 at: