8/11: Diesel Supply Up; Prices Down

Gross refinery input was up 600 Mb/d to 16.92 MMb/d last week, which boosted capacity utilization by 3.3 percentage points to 94.3%. The boost in refinery input drove up distillate production by 200 Mb/d to 5.1 MMb/d as exports dropped, which helped add supply to the market. This, then led to a 2.2 MMbbl build in stocks, and when combined with falling crude prices, pulled down diesel prices to $4.99/gal last week.

Source: EIA