Gasoline Maintains Gain as Supplies Slide to Lowest Since 2008

Gasoline futures maintained a gain after the Energy Department reported stockpiles sank to the lowest level since November 2008.

Gasoline supplies fell 2.33 million barrels to 198.9 million in the seven days ended Aug. 31, according to department data. The median estimate of 12 analysts surveyed by Bloomberg called for a 3 million-barrel decrease.

October-delivery gasoline rose 6.09 cents, or 2.1 percent, to $3.0107 a gallon at 11:05 a.m. on the New York Mercantile Exchange. Prices were $3.0095 before the report’s release at 11 a.m. in Washington.

The government said heating oil and diesel inventories rose 993,000 barrels to 127.1 million in the week ended Aug. 31. Analysts forecast a 1.55 million-barrel decrease, according to the survey.

Heating oil for October delivery gained 3.93 cents, or 1.3 percent, to $3.1569 a gallon, from $3.1563 before the report.

To contact the reporters on this story: David Marino in New York at

To contact the editor responsible for this story: Dan Stets at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.