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California refineries increase production of
Sacramento - Production of gasoline for in-state use crossed the one-million-barrels-a-day mark last week at California refineries and overall diesel production improved, according to the Weekly Fuels Watch Report issued today by the California Energy Commission.
Production of California gasoline increased 4.4 percent from the week before, averaging 1,038,143 barrels a day for the week ending December 8, 2006, an output that was 5.0 percent higher than a year ago. Inventories of California gasoline rose 3.8 percent for the week and were 6.8 percent more abundant than one year ago.
Average retail prices for regular gasoline remained relatively stable, shifting a fraction of a cent both nationally and in California. For the week ending December 11, 2006, California's statewide retail price for regular rose 0.8 cents to $2.50 a gallon, while the national average dropped 0.4 cents to $2.29.
National diesel prices moved upward a fraction of a cent, to average $2.62 a gallon for the week ending December 11. California diesel prices, however, climbed 10 cents over the week to reach $2.96 a gallon. A tight supply of diesel fuel in the Western U.S. seems to be the culprit behind the regionally high prices - the West Coast's average price for the week was $2.93 a gallon. Since December 7, however, wholesale (rack) prices for diesel in California have fallen 7 cents, an indication that retail diesel prices may level off and begin to decline.
Overall production of diesel fuel increased 3.3 percent for the week and was 7.4 percent higher than a year ago. California's Ultra Low Sulfur Diesel (ULSD) production fell 16 percent from the previous week, but was still 20 percent higher than last year at this time. Production of other diesel fuels - products for export to nearby states like Nevada, Arizona and Oregon - was up sharply, but was 23.4 percent below production a year ago, before the switch was made to the cleaner-burning ULSD fuel.
Today's entire Weekly Fuels Watch Report can be seen on the Energy Commission's website 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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