Released on July 21, 2010
(Next Release on July 28, 2010)

Weekly Preliminary Crude Oil Imports Now Available

EIA is now publishing preliminary weekly estimate of U.S. crude oil imports by country of origin for the top 15 sources, based on data from the weekly survey. EIA has historically published such information on a monthly and annual basis, but recent improvements to EIA�s weekly oil supply program include details on weekly imports that facilitate expanded publication of timely crude oil supply information.

Both the monthly and weekly data suggest that about 90 percent of crude oil imports are covered by the top 15 countries, with the top 5 countries accounting for over 60 percent. Canada remains the top U.S. crude oil import source, averaging over 20 percent of crude imports. Other countries ranking in the top 5 sources of imports are Mexico, Saudi Arabia, Venezuela, and Nigeria, each accounting for more than 10 percent of U.S. crude imports in some periods.

Since the weekly top 15 data were drawn from a sample not designed to estimate crude oil imports at such disaggregated levels with the same degree of accuracy as total crude imports, the sum of the weekly top 15 and even the country total volumes do not always closely follow the monthly data on an absolute basis. Nevertheless, most of the major crude oil streams exhibit consistency between weekly and monthly data. Figures 1 and 2 illustrate that monthly-from-weekly (MFW) calculations (which use weekly data to calculate monthly averages) track relatively well with the monthly data series for the major crude oil streams shown.

Source: Energy Information Administration

Source: Energy Information Administration

In short, while the weekly data are preliminary and may be subject to timing or other reporting differences, they routinely exhibit the same overall patterns and, as such, provide useful early indications of monthly imports by country of origin.

U.S. Average Diesel Price Still Slipping
Although the U.S. average price for regular gasoline increased a fraction of a cent, the price was, in essence, unchanged at $2.72 per gallon, $0.26 higher than last year. On a regional basis, price changes were mixed with the East Coast average dropping a penny to $2.65 per gallon. The Gulf Coast fell less than a cent to remain at $2.56 per gallon. The average in the Rocky Mountains moved up about a penny to $2.75 per gallon. Prices in the Midwest and on the West Coast increased about two cents to settle at $2.70 per gallon and $3.06 per gallon, respectively. The average in California went up nearly two cents to $3.13 per gallon.

The national average price for diesel fuel decreased for a fourth consecutive week. However, the price dropped less than half a cent and, consequently, remained essentially unchanged at $2.90 per gallon but was $0.40 above a year ago. Despite increasing by small fractions of a cent, the average prices in the Midwest and on the Gulf Coast were effectively unchanged at $2.87 per gallon and $2.86 per gallon, respectively. Prices on the East Coast and in the Rocky Mountains slipped a penny to $2.91 per gallon and $2.90 per gallon, respectively. The largest decline took place on the West Coast, where the average dipped a penny and a half to $3.04 per gallon. The average in California slipped less than a cent to stay at $3.12 per gallon.

Propane Stocks Grow Slightly
U.S. inventories of propane grew last week, but at a slower rate than we have been experiencing. Total propane inventories added 0.9 million barrels to end at 52.5 million barrels. The largest gain was realized in the Midwest region with 0.7 million barrels of added inventory. The Gulf Coast region added 0.2 million barrels, while the East Coast region was up slightly. The Rocky Mountain/West Coast region drew down slightly from their propane stocks. Propylene non-fuel use inventories decreased their share of total propane/propylene stocks from 6.1 percent to 6.0 percent.

Text from the previous editions of �This Week In Petroleum� is accessible through a link at the top right-hand corner of this page.