New York (Platts)--27Feb2008

US gasoline stocks in the week ended February 22, at 232.619 million
barrels, were at their highest level in 14 years, the US Energy Information
Administration reported Wednesday.

Gasoline stocks were not as high since reaching 233.869 million barrels
in the week ended February 4, 2004, according to EIA data from its weekly
petroleum report. Since hitting a low of 194.313 million barrels in the week
ending November 2, 2007, stocks have risen by 38.306 million barrels,
according to the EIA data.

Gasoline stocks grew by 2.355 million barrels last week, the 16th
consecutive weekly rise in gasoline levels, EIA reported. The rise was in
stark contrast to the 200,000-barrel draw on stocks expected by analysts
polled by Platts.

Total motor gasoline imports, including both finished gasoline and
blending components, last week averaged nearly 1.4 million b/d, EIA said.

While refinery inputs averaged 14.6 million b/d over the past week, up
160,000 b/d from the previous week's average, gasoline production actually
dropped on the week, averaging 8.78 million b/d, down 62,000 b/d.

Refineries operated at 84.7% of operable capacity last week, EIA said.

--Richard Rubin, richard_rubin@platts.com