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For Immediate Release: January 10, 2007
Media Contact: Rob Schlichting - 916-654-4989

Gasoline, diesel inventories up in new year

Sacramento -Inventories of California gasoline and diesel increased in the first week of the new year, according to the Weekly Fuels Watch Report issued today by the California Energy Commission.

Inventories of California's unique blend of gasoline increased by 4.3 percent over the week and are 8 percent more abundant than they were at the start of 2006. While production of the California fuel was off 2.4 percent from the previous week, it still averaged 1,023,429 barrels a day for the week ending January 5, 2007. That output was 5.1 percent higher than production at this time last year.

California's statewide retail price for regular gasoline increased 2 cents to $2.63 a gallon for the week ending January 8, 2007. At the same time, the national average fell nearly 3 cents, to $2.31 a gallon.

Inventories of California's Ultra Low Sulfur Diesel (ULSD) increased by 10.8 percent from the previous week and are 1.8 percent higher than comparable output at this time in 2006. Production of diesel for use in California was off for the week by 11.8 percent, but was still 15.8 percent higher than at this time a year ago.

The statewide retail price of California diesel declined almost 3 cents, to $2.86 a gallon. National diesel prices dropped over 4 cents, to $2.54 a gallon for the week ending January 8, 2007.

Today's entire Weekly Fuels Watch Report can be seen on the Energy Commission's website at:

www.energy.ca.gov/database/fore

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Editor's note:

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 website at:

www.energy.ca.gov/consumerfuels/

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