U.S. refineries produced more gasoline in March --9.3 million barrels a day--than in any month since API began keeping records. Furthermore, March gasoline deliveries (a key measure of gasoline demand) were higher than in any previous March.

As reported in API's Monthly Statistical Report released this morning, total deliveries of petroleum products--gasoline, distillate (heating oil and diesel fuel), kerosine-jet fuel and residual fuel oil--rose 3.5 percent from the same month a year ago.

API Chief Economist John Felmy says the statistics indicate that supplies are ample:

"U.S. refineries are doing yeoman's work meeting consumer demand. Moreover, the record gasoline production in March makes it abundantly clear that supply is not an issue with the higher gasoline prices we've seen. Sharp... more »

U.S. gasoline production and gasoline demand set new records for a February, according to API's Monthly Statistical Report issued this morning.

February gasoline production increased 0.4 percent to a record February high of 8.8 billion barrels per day. Meanwhile, gasoline demand grew by 2.2 percent over the same month a year ago.

Gasoline (and components) imports fell in February by 25.9 percent from the same period last year to 813,000 barrels per day.

"These numbers clearly show that the refining industry is making the gasoline consumers are demanding--and making it at record levels," API Chief Economist John Felmy said.

U.S. crude oil production also increased in February to the highest level since June 2005. Baker Hughes reported the U.S. rig count climbed by 6.6 percent over January a... more »