EIA: PADD 1 Gasoline Stocks Hit 11-Mo High Last Week

DAVENPORT, FL (DTN) —  East Coast (PADD 1) gasoline inventories climbed to an 11-month high last week, while distillate stocks also increased and jet fuel and crude oil inventories declined during the week ended January 23, according to U.S. Energy Information Administration data released Wednesday (1/28).
Motor gasoline inventories in PADD 1 rose by 1.2 million bbl to 64.4 million bbl during the reference week. The build pushed stocks to the highest level reported since the week ended March 7, when inventories stood at 65.3 million bbl, EIA data showed. Gasoline stocks were also 2.3 million bbl above the 62.1 million bbl reported in the same week last year. 
Distillate fuel oil inventories in PADD 1 climbed by 700,000 bbl to 34.5 million bbl on a weekly basis. Stocks were 2.2 million bbl above the 32.3 million bbl reported in the corresponding week of the prior year. Distillate fuel oil imports declined by 47,000 bpd to 212,000 bpd, though they were higher than the 132,000 bpd recorded in the same week of the prior year. 
In contrast, jet fuel inventories on the East Coast fell by 500,000 bbl to 8.6 million bbl last week. Jet fuel stocks were 2 million bbl lower than the 10.6 million bbl reported in the same week last year, limiting near-term surplus availability. The East Coast reported zero jet fuel imports in the reference week, compared to 25,000 bpd the prior week and 40,000 bpd in the same week of last year.
Crude oil inventories in PADD 1 declined by 500,000 bbl to 7.3 million bbl during the week profiled and were 7.6 million bbl lower than volumes recorded a year earlier. Crude oil imports into the region fell by 239,000 bpd to 549,000 bpd, compared to 517,000 bpd reported in the same week of the prior year.
 Retail gasoline prices on the East Coast increased by 3.8cts to $2.801 gallon in the week ended January 26, remaining 27.5cts below the same period last year, EIA data released Tuesday (1/27) showed.  East Coast diesel prices also firmed, averaging $3.477 gallon in the reference week, up 9.9cts on the week, though they remained 3.8cts below year-ago levels.