U.S. West Gasoline Strengthens as Supplies Fall to Seasonal Low
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Spot gasoline on the U.S. West Coast surged against futures after the Energy Information Administration said regional stockpiles of the motor fuel dropped to a record low for this time of year.
Gasoline supplies in the West, known as the PADD 5 region, fell for the 12th straight week to 25.9 million barrels in the seven days ended April 26, the least since Aug. 10, and a seasonal low in data going back to 1990, according to the EIA, the Energy Department’s statistical arm.