Gas inventories fall to record low

U.S. gasoline supplies are the lowest ever recorded in terms of demand, at just 20 days of average fuel consumption, the Energy Information Administration said.

“This is even fewer days than seen following the hurricanes in 2005,” the administration said in its weekly review of the oil market.

Inventories have fallen in recent weeks by more than 12 million barrels to just under 193 million barrels, a bigger decline than normally seen at this time of year, the EIA said. The agency expects gasoline demand to average 9.65 million barrels a day, so supplies will be able to meet only 20 days of fuel use.