Gasoline Breaks Down and Heads Toward Support

Gasoline prices have started to break down and are poised to test the August lows at 1.2897. Total motor gasoline imports including both finished gasoline and gasoline blending components, increased last week averaging 990,000 barrels per day. Total gasoline inventories increased by 3.3 million barrels last week, and are near the upper limit of the average range. Both finished gasoline inventories and blending…