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Production up for gasoline,
down for diesel as turnarounds continue
Sacramento - As the "turnaround" season continues and some facilities are taken off-line for yearly maintenance, refiners last week produced over a million barrels of gasoline a day, while diesel production was down.
For the fourth week in a row, California gasoline production was higher than it has been at this time in over five years, according to the Weekly Fuels Watch Report issued today by the California Energy Commission. It averaged 1,020,000 barrels a day for the week ending November 3, 2006, up 2.5 percent from the previous week and 11.3 percent better than a year ago. Inventories of gasoline for California use fell 4.1 percent over the week but were 2.7 percent higher than last year's totals.
California's retail price for regular gasoline slid for the twelfth straight week, dropping 4 cents to $2.40 a gallon for the week ending November 6, 2006. The last time the statewide average was this low was early January of this year.
For California's Ultra Low Sulfur Diesel (ULSD), however, the production picture was less rosy. With a number of diesel facilities in turnaround, statewide production dropped 13.7 percent from the week before. Despite these production levels that were 12.1 percent below those a year ago, ULSD inventories dropped only 4.3 percent for the week and remained 20.3 percent more abundant than comparable supplies last year. The statewide price of diesel began to level off, dropping only a penny over the week to reach an average of $2.64 a gallon for the week ending November 6, 2006-the lowest price since mid-January 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:
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