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GasBuddy News Article

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EIA: Crude inventories continue to drop, West Coast refinery production rises even with fire

GasBuddy Blog -- The Energy Information Administration released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories decreased by 3.7 million barrels to a total of 366.2 million barrels. At 366.2 million barrels, inventories are 12.2 million barrels above last year (3.4%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 2.4 million barrels to 203.7 million barrels. At 203.7 million barrels, inventories are down 6.4 million barrels, or 3.0% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-1.8mb); Midwest...


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Submitted Aug 15, 2012 By: PD
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Author Topic: EIA: Crude inventories continue to drop, West Coast refinery production rises even with fire Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Aug 18, 2012 6:52:59 AM

nothing new.
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pfone1847
Champion Author Illinois

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Message Posted: Aug 17, 2012 6:38:02 AM

Hmmm
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honda0105
Champion Author Tallahassee

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Message Posted: Aug 17, 2012 5:05:36 AM

prices unchanged in their upward move.
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spiderjay
Champion Author Little Rock

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Message Posted: Aug 16, 2012 7:09:07 PM

why is gas up 15ยข this week
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sparky808
Champion Author Honolulu

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Message Posted: Aug 16, 2012 12:30:50 PM

Thank you for posting.
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JamesCalvin
Champion Author Lancaster

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Message Posted: Aug 16, 2012 10:55:33 AM

Up and down!
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JXQW
Champion Author Kansas City

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Message Posted: Aug 16, 2012 10:40:04 AM

that is funny why it drops at the right time (the prices are surging)...
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MikLamb
Champion Author Texas

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Message Posted: Aug 16, 2012 9:24:44 AM

So, let me get this straight: A refinery fire causes retailers to instantly jack up prices, because of the "expected drop in gas availability". Surprise, there's no drop in availability, production is actually rising! So, do retailers go ahead and sheepishly drop their prices back down? Hell, no!
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CapriceWagon
Champion Author Washington

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Message Posted: Aug 16, 2012 8:55:29 AM

All part of the game, there's no reason for prices to rollercoaster
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Rhino8of8
Champion Author Wisconsin

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Message Posted: Aug 16, 2012 8:41:23 AM

Refinery production rises even with fire... but it was the fire and reduced refineries that was driving the price up, right?
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Somis1
Champion Author Ventura

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Message Posted: Aug 16, 2012 8:40:07 AM

Oh, good. If refinery production hasn't been affected after all, prices will quickly return to where they were. Not!
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BudsterMO
Champion Author Kansas City

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Message Posted: Aug 16, 2012 8:39:57 AM

More grist for the speculator mill. Stop Oil Speculation (SOS) NOW!
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Sethyl
Champion Author Miami

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Message Posted: Aug 16, 2012 8:39:45 AM

If the prices are up, the President can't control them, but if they go down, they get all the credit for the improvement.
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PackerfanMN
Champion Author Twin Cities

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Message Posted: Aug 16, 2012 8:39:40 AM

Doesn't pass the smell test. Manipulated Price is right!
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mitchells
Champion Author Montreal

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Message Posted: Aug 16, 2012 8:39:35 AM

more fire for the speculators
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mikerroy
Champion Author Albuquerque

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Message Posted: Aug 16, 2012 8:37:25 AM

We always hear about the "Market Price" for gasoline. That should be changed to what it really is, the "Manipulated Price" for gasoline!
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buzzieNY
Champion Author Buffalo

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Message Posted: Aug 16, 2012 8:37:22 AM

The result, higher prices coming just in time for the elections!
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BCM1
Champion Author Pennsylvania

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Message Posted: Aug 16, 2012 8:35:22 AM

Wasn't this yesterday's news. We have more crude now than last year, but these worry warts are trying to spread fear and drive up the price.
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regasaz
Champion Author Phoenix

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Message Posted: Aug 16, 2012 8:34:22 AM

Inventories down, pump prices skyrocketing. Things seem to smell a little fishy I'd say.
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momof5MN
Champion Author Twin Cities

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Message Posted: Aug 16, 2012 8:34:17 AM

Zzzzzzzzzzz
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olebufnav
Champion Author Omaha

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Message Posted: Aug 16, 2012 8:33:06 AM

WHY?
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wingryder92
Champion Author British Columbia

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Message Posted: Aug 16, 2012 8:32:37 AM

That is some imaginary dream Chris46, you definitely dream big!!
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bigsranch
Champion Author Houston

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Message Posted: Aug 16, 2012 8:32:25 AM

We need to drill. Mexico is not only drilling, they are pulling more oil out of their old wells through their "campos maduros" program.
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PTBpricer
Champion Author Virginia

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Message Posted: Aug 16, 2012 8:31:47 AM

I'm wondering where we import gas from and to whom we export the gas.

And why is east coast production so low.
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40mpgsaturn
Champion Author Wisconsin

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Message Posted: Aug 16, 2012 8:31:35 AM

It really doesn't matter!
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Chris46
Champion Author Dayton

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Message Posted: Aug 16, 2012 8:30:42 AM

My dream is to wake up and find gas prices have fallen under $2/gallon, by some miracle.
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esorsd
Champion Author St. Louis

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Message Posted: Aug 16, 2012 8:30:29 AM

ok
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Stevedog
Champion Author Michigan

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Message Posted: Aug 16, 2012 8:30:01 AM

refineries can catch on fire?
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SmokeFan14
Champion Author St. Louis

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Message Posted: Aug 16, 2012 8:29:43 AM

Crazy
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stpatrickbday
Champion Author Albuquerque

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Message Posted: Aug 16, 2012 8:29:05 AM

so why are prices rising?
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racerdj
Champion Author Indianapolis

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Message Posted: Aug 16, 2012 8:29:03 AM

The result, higher prices coming just in time for the elections!
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treehood
Champion Author San Diego

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Message Posted: Aug 16, 2012 8:28:11 AM

Some of the numbers just don't seem right because the the Chevron refinery fire. Wonder what next week will show.
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packards42
Champion Author Washington

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Message Posted: Aug 16, 2012 8:28:05 AM

decreasing inventories, that bad for prices
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gsipper
Champion Author Indianapolis

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Message Posted: Aug 16, 2012 8:27:50 AM

Prices are down for a little bit.
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techque
Champion Author St. Louis

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Message Posted: Aug 16, 2012 8:27:34 AM

so the petroterrorists used the fire as a hoax excuse to jack prices for previously unused production capability !! surprise, surprise.
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H2OBurner
Champion Author Utah

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Message Posted: Aug 16, 2012 8:27:29 AM

k
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TTM77
Champion Author Maryland

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Message Posted: Aug 16, 2012 8:27:26 AM

conserve.....
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Prodaddy
Champion Author Houston

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Message Posted: Aug 16, 2012 8:26:06 AM

They just wanna " price gouge " us
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JCS
Champion Author Twin Cities

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Message Posted: Aug 16, 2012 8:25:34 AM

Thank Obama
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FocusGuy
Champion Author Seattle

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Message Posted: Aug 16, 2012 8:24:23 AM

git ovr it
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Rick01
Champion Author Utah

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Message Posted: Aug 16, 2012 8:23:46 AM

Letting us know we are going to take in the shorts again soon.
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BigBrat
Champion Author Phoenix

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Message Posted: Aug 16, 2012 8:23:29 AM

Keep conserving!!!!
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goalie1950
Champion Author Phoenix

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Message Posted: Aug 16, 2012 8:23:25 AM

These inventory numbers mean nothing. The oil companies are going to charge whatever they want anyway. The principles of supply and demand don't apply when it comes to oil and gasoline. The major component in pricing these commodities is: GREED.
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ILANGE9
Champion Author Illinois

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Message Posted: Aug 16, 2012 8:23:09 AM

Yonkers111 has solved the mystery. Thanks.
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Jmac2008
Champion Author Missouri

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Message Posted: Aug 16, 2012 8:23:03 AM

and gas prices get higher
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tribill
Champion Author Twin Cities

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Message Posted: Aug 16, 2012 8:22:29 AM

Whatever...
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Digger52
Champion Author Chicago

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Message Posted: Aug 16, 2012 8:22:05 AM

Is there a practical purpose to this report?
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teatiger
Champion Author Dallas

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Message Posted: Aug 16, 2012 8:20:40 AM

more market pricing BS
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deputydog082
Champion Author Detroit

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Message Posted: Aug 16, 2012 8:20:25 AM

no correlation exists between inventory and prices except to justify increased gas pricing
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Yonkers111
Champion Author Scranton

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Message Posted: Aug 16, 2012 8:20:12 AM

It was a tall, fat, short, skinny guy. This article says it all.
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