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Crude oil stockpiles up by 3.3M barrels

March 27, 2013 at 7:00 PM   |   Comments

WASHINGTON, March 27 (UPI) -- U.S. crude oil inventories rose by 3.3 million barrels in the week ending Friday, the Energy Information Administration said.

The agency said inventories climbed to 385.9 million barrels and remain well above the average range for this time of year.

The EIA said supplies of distillate fuels, which include home heating oil, fell 4.5 million barrels to 115.3 million barrels. Inventories of distillate fuels are near the lower half of the average range for this time of year, the agency said.

Stockpiles of gasoline fell 1.6 million barrels to 221.2 million barrels this week but remain in the middle of the average range for this time of year.

The national average price of unleaded gasoline shed 1.6 cents to $3.68 per gallon, putting the price of gasoline 23.8 cents lower than the same week of 2012.

It was the fourth consecutive week gasoline prices have dropped, EIA said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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