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API: Gasoline demand posted small increase in April

While total US demand for oil products dipped in April, gasoline demand climbed almost 1% from a year earlier to average 8.842 million b/d, according to the latest monthly statistical report from the American Petroleum Institute.

Overall petroleum deliveries, a measure of demand, were down 0.3% from April 2011. Jet fuel demand declined by 3.2% to 1.404 million b/d, and residual fuel oil demand fell by 28% to 430,000 b/d, API reported. Distillate fuel oil demand climbed to 3.738 million b/d from the year-earlier average of 3.689 million b/d.

“The mixed demand picture reflects an improving but relatively weak economy,” said API chief economist John Felmy.

API figures show that total US oil demand through the first 4 months of this year are down 1.8% from the same 2011 period.

US production of crude oil and condensate during April was 5.963 million b/d, up 6.6% from April 2011, while natural gas liquids production jumped by 10% to 2.372 million b/d.

US gasoline production of 9.129 million b/d set a record for any April and for any comparable year-to-date period, API said. Distillate production at 4.27 million b/d was the second highest for any April and also a year-to-date record. Refinery utilization was unchanged from April 2011.

Total US petroleum imports met 55.8% of demand, API reported, as crude and product imports in April were 10.359 million b/d. In April 2011, US imports of crude and products averaged 11.405 million b/d.

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