NEW YORK (CNN/Money) - U.S. inventories of crude oil fell last week but stocks of distillate fuels -- the basis of home heating oil -- rose, according to a government report released Wednesday.

The Energy Information Administration reported a 1.7 million barrel drop in crude stocks for the week ended Aug. 20, excluding the Strategic Petroleum Reserve. The 291.3 million barrels reported this week represents a 0.6 percent decline from the previous week's 293 million barrels, although stocks are still up 3.4 percent from a year ago.

Stocks of distillate fuel rose by 500,000 barrels, or 0.4 percent, to 125.1 million barrels over last week's 124.6 million barrels.

The news failed to move oil prices, which have eased in recent days from last week's record high of almost $50 a barrel. Although making modest gains in early-morning trade, U.S. light crude for October delivery was little changed at $45.25 late-morning on the New York Mercantile Exchange.

Prices remain $8 higher than at the end of June, bolstered by robust world oil demand growth. An easing of supply side concerns helped fuel profit-taking from Friday's $49.40-a-barrel record high.

Gasoline stocks remained at 205.7 million barrels, unchanged from last week.

Gas prices have so far been uninfluenced by the spike in oil, even edging down in recent weeks, although some analysts warn that will not continue if oil remains above $40.

The amount of oil imports coming into the U.S. also fell slightly. This week saw imports of 10.2 million barrels a day, down from the prior week's 10.4 million barrels.