Gasoline inventories down in United States

April 28, 2011 at 7:34 AM
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WASHINGTON, April 28 (UPI) -- Gasoline stocks in the United States are on a steady decline from levels reported earlier this year, a division of the U.S. Department of Energy says.

The U.S. Energy Information Agency said gasoline inventories were down 2.5 million barrels to 205 million barrels for the year. Inventories in general were less than the five-year average and have steadily declined during the past 10 weeks.

Gasoline prices in the United States are at post-recession highs. Some gasoline stations in Los Angeles were reporting Thursday unleaded regular cost $4.83 per gallon. Gasoline prices in most of the country average just more than $4 per gallon.

Crude oil stocks, however, were on a general increase across much of the country, the EIA report said. Crude stocks on the Midwest, however, were down when compared with the rest of the United States.

Analysts told the Platts news service that they had projected crude oil stocks, listed at 363 million barrels, were more than the five-year average and 5.3 million barrels higher than in 2010.

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