Not Logged In Log In   Sign Up   Points Leaders
Follow Us    1:28 AM

GasBuddy News Article

49
votes
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...


Read the Full Article

Submitted Aug 15, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
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
honda0105
Champion Author Tallahassee

Posts:24,080
Points:2,392,115
Joined:Nov 2008
Message Posted: Aug 18, 2012 6:52:59 AM

nothing new.
pfone1847
Champion Author Illinois

Posts:6,438
Points:1,403,630
Joined:Oct 2010
Message Posted: Aug 17, 2012 6:38:02 AM

Hmmm
honda0105
Champion Author Tallahassee

Posts:24,080
Points:2,392,115
Joined:Nov 2008
Message Posted: Aug 17, 2012 5:05:36 AM

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

Posts:4,843
Points:1,377,990
Joined:Oct 2005
Message Posted: Aug 16, 2012 7:09:07 PM

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

Posts:5,991
Points:1,353,210
Joined:Sep 2011
Message Posted: Aug 16, 2012 12:30:50 PM

Thank you for posting.
JamesCalvin
Champion Author Lancaster

Posts:6,533
Points:1,297,085
Joined:Nov 2011
Message Posted: Aug 16, 2012 10:55:33 AM

Up and down!
JXQW
Champion Author Kansas City

Posts:2,787
Points:788,325
Joined:Jul 2008
Message Posted: Aug 16, 2012 10:40:04 AM

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

Posts:11,245
Points:2,954,445
Joined:Jun 2006
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!
CapriceWagon
Champion Author Washington

Posts:1,488
Points:1,123,840
Joined:Feb 2008
Message Posted: Aug 16, 2012 8:55:29 AM

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

Posts:3,124
Points:1,051,295
Joined:Jan 2012
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?
Somis1
Champion Author Ventura

Posts:16,855
Points:3,356,595
Joined:Jul 2005
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!
BudsterMO
Champion Author Kansas City

Posts:6,876
Points:1,457,205
Joined:Aug 2009
Message Posted: Aug 16, 2012 8:39:57 AM

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

Posts:4,440
Points:1,073,915
Joined:Oct 2009
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.
PackerfanMN
Champion Author Twin Cities

Posts:3,056
Points:775,570
Joined:Nov 2011
Message Posted: Aug 16, 2012 8:39:40 AM

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

Posts:5,842
Points:1,822,585
Joined:Oct 2009
Message Posted: Aug 16, 2012 8:39:35 AM

more fire for the speculators
mikerroy
Champion Author Albuquerque

Posts:5,244
Points:1,378,120
Joined:May 2005
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!
buzzieNY
Champion Author Buffalo

Posts:6,067
Points:1,397,550
Joined:Jun 2011
Message Posted: Aug 16, 2012 8:37:22 AM

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

Posts:1,944
Points:1,204,695
Joined:Jun 2007
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.
regasaz
Champion Author Phoenix

Posts:7,716
Points:1,934,025
Joined:Dec 2006
Message Posted: Aug 16, 2012 8:34:22 AM

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

Posts:7,137
Points:378,225
Joined:Feb 2011
Message Posted: Aug 16, 2012 8:34:17 AM

Zzzzzzzzzzz
olebufnav
Champion Author Omaha

Posts:7,488
Points:1,761,840
Joined:Nov 2008
Message Posted: Aug 16, 2012 8:33:06 AM

WHY?
wingryder92
Champion Author British Columbia

Posts:10,328
Points:1,334,605
Joined:Apr 2011
Message Posted: Aug 16, 2012 8:32:37 AM

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

Posts:3,751
Points:1,165,860
Joined:Apr 2007
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.
PTBpricer
Champion Author Virginia

Posts:7,053
Points:724,250
Joined:Jun 2012
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.
40mpgsaturn
Champion Author Wisconsin

Posts:4,417
Points:1,126,840
Joined:Jun 2011
Message Posted: Aug 16, 2012 8:31:35 AM

It really doesn't matter!
Chris46
Champion Author Dayton

Posts:50,654
Points:2,850,645
Joined:Sep 2005
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.
esorsd
Champion Author St. Louis

Posts:8,789
Points:2,409,815
Joined:May 2005
Message Posted: Aug 16, 2012 8:30:29 AM

ok
Stevedog
Champion Author Michigan

Posts:5,112
Points:2,200,115
Joined:Jul 2006
Message Posted: Aug 16, 2012 8:30:01 AM

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

Posts:2,650
Points:1,730,060
Joined:Oct 2008
Message Posted: Aug 16, 2012 8:29:43 AM

Crazy
stpatrickbday
Champion Author Albuquerque

Posts:2,589
Points:771,050
Joined:Mar 2011
Message Posted: Aug 16, 2012 8:29:05 AM

so why are prices rising?
racerdj
Champion Author Indianapolis

Posts:13,041
Points:2,837,300
Joined:Jun 2003
Message Posted: Aug 16, 2012 8:29:03 AM

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

Posts:5,340
Points:1,179,010
Joined:May 2011
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.
packards42
Champion Author Washington

Posts:9,349
Points:1,785,825
Joined:Feb 2005
Message Posted: Aug 16, 2012 8:28:05 AM

decreasing inventories, that bad for prices
gsipper
Champion Author Indianapolis

Posts:2,763
Points:1,332,340
Joined:Dec 2010
Message Posted: Aug 16, 2012 8:27:50 AM

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

Posts:11,683
Points:2,924,890
Joined:Apr 2005
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.
H2OBurner
Champion Author Utah

Posts:5,168
Points:1,483,195
Joined:Sep 2006
Message Posted: Aug 16, 2012 8:27:29 AM

k
TTM77
Champion Author Maryland

Posts:2,593
Points:1,389,860
Joined:Apr 2005
Message Posted: Aug 16, 2012 8:27:26 AM

conserve.....
Prodaddy
Champion Author Houston

Posts:11,577
Points:2,666,445
Joined:May 2007
Message Posted: Aug 16, 2012 8:26:06 AM

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

Posts:6,631
Points:2,064,475
Joined:Apr 2002
Message Posted: Aug 16, 2012 8:25:34 AM

Thank Obama
FocusGuy
Champion Author Seattle

Posts:10,246
Points:2,176,600
Joined:Apr 2009
Message Posted: Aug 16, 2012 8:24:23 AM

git ovr it
Rick01
Champion Author Utah

Posts:12,283
Points:3,126,880
Joined:Sep 2005
Message Posted: Aug 16, 2012 8:23:46 AM

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

Posts:4,061
Points:1,377,320
Joined:Dec 2004
Message Posted: Aug 16, 2012 8:23:29 AM

Keep conserving!!!!
goalie1950
Champion Author Phoenix

Posts:9,666
Points:2,078,140
Joined:Oct 2009
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.
ILANGE9
Champion Author Illinois

Posts:10,797
Points:2,364,630
Joined:Sep 2008
Message Posted: Aug 16, 2012 8:23:09 AM

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

Posts:4,619
Points:1,488,945
Joined:Dec 2008
Message Posted: Aug 16, 2012 8:23:03 AM

and gas prices get higher
tribill
Champion Author Twin Cities

Posts:3,342
Points:2,856,710
Joined:Feb 2006
Message Posted: Aug 16, 2012 8:22:29 AM

Whatever...
Digger52
Champion Author Chicago

Posts:5,441
Points:1,618,325
Joined:Aug 2008
Message Posted: Aug 16, 2012 8:22:05 AM

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

Posts:5,936
Points:2,257,165
Joined:Nov 2008
Message Posted: Aug 16, 2012 8:20:40 AM

more market pricing BS
deputydog082
Champion Author Detroit

Posts:4,309
Points:1,359,575
Joined:Apr 2011
Message Posted: Aug 16, 2012 8:20:25 AM

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

Posts:8,344
Points:859,325
Joined:Apr 2007
Message Posted: Aug 16, 2012 8:20:12 AM

It was a tall, fat, short, skinny guy. This article says it all.
ggg452
Champion Author Manitoba

Posts:4,850
Points:1,113,120
Joined:May 2012
Message Posted: Aug 16, 2012 8:19:44 AM

WOW REALLY?
Post a reply Back to Topics