Gasoline Supplies in U.S. Rise at Record Pace as Demand Falls
- Motor fuel inventories rise 19 million barrels in two weeks
- Pump prices decline to lowest since 2009, weakening margins
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Refineries are stocking gasoline at the fastest pace on record as weak U.S. demand reduces their profit margins.
Inventories of the fuel rose by 19 million barrels in the two weeks ended Jan. 8, the Energy Information Administration reported, the biggest increase for any two weeks since data started in 1990. Refinery margins dropped to a one-month low.