U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.5 million barrels from the previous week. At 423.9 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year. Total motor gasoline inventories decreased by 7.2 million barrels last week and are about 4% below the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 3.1 million barrels last week and are about 12% below the five year average for this time of year. Propane/propylene inventories increased by 0.8 million barrels last week and are about 20% below the five year average for this time of year. Total commercial petroleum inventories decreased by 10.4 million barrels last week.
U.S. crude oil refinery inputs averaged 14.3 million barrels per day during the week ending September 3, 2021 which was 1.6 million barrels per day less than the previous week’s average. Refineries operated at 81.9% of their operable capacity last week. Gasoline production increased last week, averaging 10.1 million barrels per day. Distillate fuel production decreased last week, averaging 4.2 million barrels per day.
U.S. crude oil imports averaged 5.8 million barrels per day last week, decreased by 0.5 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.2 million barrels per day, 12.2% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 899,000 barrels per day, and distillate fuel imports averaged 142,000 barrels per day.
Total products supplied over the last four-week period averaged 21.5 million barrels a day, up by 18.8% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.5 million barrels a day, up by 8.9% from the same period last year. Distillate fuel product supplied averaged 4.1 million barrels a day over the past four weeks, up by 11.2% from the same period last year. Jet fuel product supplied was up 65.3% compared with the same four-week period last year.
The West Texas Intermediate crude oil price was $69.34 per barrel on September 3, 2021, $0.50 above last week’s price and $29.65 more than a year ago. The spot price for conventional gasoline in the New York Harbor was $2.339 per gallon, $0.054 more than last week’s price and $1.118 above a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $2.157 per gallon, $0.050 above last week’s price and $1.031 over a year ago.
The national average retail regular gasoline price was $3.176 per gallon on September 6, 2021, $0.037 per gallon more than last week’s price and $0.965 over a year ago. The national average retail diesel fuel price was $3.373 per gallon, $0.034 above last week’s price and $0.938 over a year ago.
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