EIA warns U.S. gasoline stocks below normal levels

By KERM YERMAN

U.S. gasoline stocks have fallen well below normal levels for this time of year and volatile fuel prices in the spring are likely to result, the U.S. Energy Information Administration warned on Wednesday.

"Gasoline stocks are usually used to help meet gasoline demand during February and March as refiners go through maintenance and turnarounds, but we do not have the volumes in place now to cover the usual draw," the EIA said in a special report on gasoline stocks.

The agency pointed out that at the beginning of February gasoline stocks were almost 13 million barrels, or 6 percent, below the low end of normal levels.

"Even with delayed (refinery) maintenance, we are likely to be facing the beginning of the gasoline season with low stocks," the agency said.

Any short-term supply disruptions, such as those that sometimes occur when refineries are coming out of their turnarounds in April and ramping up production, could cause gasoline prices to go even higher, the EIA said.

The national price for unleaded gasoline reached $1.41 a gallon on Tuesday, up five cents from the prior week, and the highest since EIA began tracking weekly gasoline prices during the Gulf War in 1991.

http://www.canoe.ca/MoneyOil/mw_oilnews15.html

-- Carl Jenkins (Somewherepress@aol.com), February 24, 2000

Answers

They could have found this out by looking at TB2000 a couple weeks ago!

-- Mad Monk (madmonk@hawaiian.net), February 24, 2000.