WASHINGTON (MNI) – The following is the text of the summary of the
monthly statistical report for FMay by the American Petroleum
Institute Friday, on domestic petroleum deliveries, crude oil
production as well as gasoline deliveries:

U.S. gasoline deliveries for May dipped 0.4 percent from last year
to average 9.05 million barrels per day, the lowest May level since
2003, according to the American Petroleum Institute’s Monthly
Statistical Report.

“This downward movement compared with year-on-year increases for
both March 2010 and April 2010 indicates that gasoline demand is more
sensitive to higher prices and to the effects of the sluggish economic
recovery than distillate and jet fuels, which both saw increased demand
in May, compared with previous months,” said API Chief Economist John

Average regular-grade gasoline prices were 57 cents per gallon
higher in May 2010, compared with the same month a year earlier,
according to the U.S. Energy Information Administration.

May distillate deliveries surged 7.8 percent from May 2009,
supported by a jump in ultra low sulfur distillate. This was the second
consecutive month that distillate deliveries showed upward movement on a
year-to-year basis, following 29 months of declines since 2007. Even
though May deliveries were up from last year, they averaged just 3.7
million barrels per day, which marked the second lowest May since 2003.

Jet fuel deliveries averaged 1.4 million barrels per day for May,
an 8 percent bump from a year ago and 2.6 percent higher than April,
thanks in part to airline travel demand during the Memorial Day holiday.
January-through-May jet fuel deliveries were up 1.6 percent in 2010
relative to 2009.

Meanwhile, the average U.S. refinery utilization rate for April
climbed above 86 percent for the first time this year, moving to the
highest level since July 2009. Total motor gasoline production in May
was at 9.1 million barrels per day — the highest level for any May, and
a continuation of gasoline production trends seen for all five months of
this year. With the exception of May 2008 when distillate production
stood at 4.5 million barrels per day, May 2010 distillate production of
4.2 million barrels per day was the highest for any May.

** Market News International Washington Bureau: 202-371-2121 **