1153NATURAL GASOLINE
AND LIQUEFIED PETROLEUM GASES I

By F. S. LOTT AND A. T. COUMBE'
  ~ Natural gasoline—Continued.
 Natural gasoline 1153 Stocks                          
 Summary 1153 Technologic developments 1164
 Salient statistlcs_ 1154 Cycling plants 1164
 Prices and market conditions 1154 Yields 1164
 Production 1155 Production by processes  1165
 Consumption and movements 1159 Trends in vapor pressures 1165
  Refinery utilization 1159 Technical improvements 11415
  Direct sales 1160 Liquefied petroleum gases   1165
  Water-borne shipments 1163





NATURAL GASOLINE

SUNMARY

 To the natural-gasoline industry, 1941 was the most profitable of any recent
year. The volume of production increased sharply (15 percent) to about 2,697
million gallons and set a new record for the second successive year. The
total demand for natural gasoline outstripped production, gained 21 percent
to 2,757 million gallons,
and caused a draft of 60 million gallons on stocks.
 Spot Mid-Continent prices, which began to recover late in 1940 from extremely
low levels, averaged 2.4 cents per gallon in January 1941 and advanced steadily
throughout the year to an average of 5.1 cents in December. Estimated yearly
average values realized by producers are approximately 1 cent per gallon
above spot prices. Such average values of 2.9 cents per gallon for 1940 and
4.7 cents for 1941 indicate that the gross value of natural gasoline distributed
was 95 percent higher in 1941 than in 1940—a surprising improvement.
Early m 1942, however, prices broke sharply as marketing facilities were
restricted by transportation difficulties attributable to the war.
 The proportion of natural gasoline blended in refinery gasoline returned
in 1941 to a more nearly normal level (7.1 percent) from the 6.6 percent
that had prevailed in 1939 and 1940.
 Figures showing total exports for 1941 cannot be published; they are therefore
combined with "losses" in this report.
 The average yield of gasoline from natural gas probably continued the declining
trend of recent years. Average vapor pressure, however, recovered from the
low point of 1940 owing to increased requirements for the lighter products
by refiners. This change may have been influenced in some d~egree by sharply
higher demand for the ingredients from which aviation gasoline could be manufactured.
Data for 1941 are preliminary; detailed statistics with final revisions will
be released later.
Tables compiled by E. M. Seeley, Petroleum Economics Division. Bureau of
Mines.