The total gasoline inventories of independent refineries in Shandong Province were 149,000mt as of Tuesday, down by 68,000mt or 31.3% from end July, according to C1's research.
The volume took up 21.6% of the overall storage capacity of the refineries.
The drop was mainly due to turnarounds of some of the refineries and robust gasoline demand during the current peak season, market sources said.
However, gasoil inventories of the refineries built by 34,000mt or 13.8% to 281,000mt in the past two weeks.
The stock accounted for 28.6% of the total storage capacity.
Gasoil sales were slow in Shandong as private traders and petrol stations largely stayed on the sidelines in face of fluctuating international crude prices, according to the market sources.
Oil product stocks of Shandong independent refineries were 430,000mt in total Tuesday, a decline of 34,000mt or 7.3% from end July.
C1's research involves 20 independent refineries, and their topping capacities amounted to 50.1-mil mt per year, accounting for 79.4% of the whole crude processing capacity of independent refineries in Shandong.
