Refinery utilization climbed to 85.5%, an increase of 0.7% vs. last week's numbers. I have to wonder why they are holding back. Is this a price maneuver ? Wouldn't running the refineries closer to 100% capacity not only lower fuel prices while increasing employment ? I wonder who controls this ?
The good news here is that refinery output and gasoline
production for the majority of the country has increased even as
distillate fuel (heating oil) production increased at the same time.
Total gasoline inventories increased and remain in the average range
suggesting little change in consumer demand. Consumers should expect to
see retail gasoline prices edge lower.