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GasBuddy News Article

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EIA: Huge decline in oil inventories, gasoline inventories drop

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 6.5 million barrels to a total of 373.6 million barrels. At 373.6 million barrels, inventories are 18.6 million barrels above last year (5.2%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 2.2 million barrels to 207.9 million barrels. At 207.9 million barrels, inventories are down 7.3 million barrels, or 3.4% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-1.3mb); Midwest...


Read the Full Article

Submitted Aug 01, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: EIA: Huge decline in oil inventories, gasoline inventories drop Back to Topics
REPLIES (newest first) Post a Reply
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albert2008
Champion Author Winnipeg

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Message Posted: Aug 5, 2012 8:32:11 AM

not good
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honda0105
Champion Author Tallahassee

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Message Posted: Aug 5, 2012 7:26:08 AM

and we're back to August 2008 prices soon. Nothing but greed. No reason for it otherwise.
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QualTekGuy
Champion Author Illinois

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Message Posted: Aug 3, 2012 6:38:31 AM

Here comes the price rise.
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cssco
Champion Author Virginia

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Message Posted: Aug 2, 2012 3:36:22 PM

Some one neglected to compute the four week rolling average. Now what do we do without that information, it will make the coming week very difficult, if not impossible.
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sparky808
Champion Author Honolulu

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Message Posted: Aug 2, 2012 11:40:47 AM

old post
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JoeKR
Champion Author New Jersey

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Message Posted: Aug 2, 2012 11:39:03 AM

A decline that leaves us 5% higher than last year hardly merits the screaming headline "Huge decline"!
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treehood
Champion Author San Diego

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Message Posted: Aug 2, 2012 9:02:38 AM

I'm not sure I see the evil genius here. We imported less oil because we have very high inventories and prices were also high, hence the inventory fell and we still have very high inventories.
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ggg452
Champion Author Manitoba

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Message Posted: Aug 2, 2012 8:46:05 AM

ok
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Dennisjk
Champion Author Detroit

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Message Posted: Aug 2, 2012 8:43:57 AM

You tell them f4driver.
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f4driver
Champion Author Maine

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Message Posted: Aug 2, 2012 8:15:00 AM

EIA 2013 budget: $27.2 BILLION taxpayer dollars, to tell us how much oil/gas we have!
Does anyone think the federal government has gotten completely out of control?
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Legend1500
All-Star Author Midland Odessa

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Message Posted: Aug 2, 2012 8:14:01 AM

Interesting
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Mermaan
Champion Author Boston

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Message Posted: Aug 2, 2012 8:13:36 AM

But prices are at an all time high.
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bluebird1
Champion Author Toronto

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Message Posted: Aug 2, 2012 8:11:16 AM

Yada, yada...its still way better in US than Canada where gas is at least 1.50/gal US more.
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Wolfwings
Champion Author Delaware

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Message Posted: Aug 2, 2012 8:03:26 AM

PURE G R E E D...
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sit
Champion Author Cleveland

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Message Posted: Aug 2, 2012 8:02:40 AM

Prices way up in Ohio. Thanks Washington.
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BumpinButch
Champion Author Texas

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Message Posted: Aug 2, 2012 8:02:07 AM

No end in sight to our BLIGHT.
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SUPPER
Champion Author San Bernardino

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Message Posted: Aug 2, 2012 8:01:16 AM

Going up
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freedomsailor
Champion Author Naples

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Message Posted: Aug 2, 2012 8:01:16 AM

More political jobs, at our expense.
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Minutefan
Champion Author Springfield

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Message Posted: Aug 2, 2012 8:00:12 AM

prices are still inflated
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daquanabe
Champion Author Houston

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Message Posted: Aug 2, 2012 7:58:56 AM

"Huge decline", really? Consumption is down, yet inventories are higher than last year, AND "above the upper limit of the average range." What a bunch of crap!
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wt0826
Champion Author Ontario

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Message Posted: Aug 2, 2012 7:58:55 AM

ok
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merlinCO
Champion Author Colorado

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Message Posted: Aug 2, 2012 7:58:24 AM

Supply and demand, this is how gas should be priced not what the economy does.
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bridgerunner
Champion Author Virginia

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Message Posted: Aug 2, 2012 7:58:17 AM

"...EIA is just another FEDERAL JOKE, and a waste of taxpayer money..."
----------------------------------------------------------------------------

I think that cableman31 is on to something.
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KelHinyee
Veteran Author Columbus

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Message Posted: Aug 2, 2012 7:57:28 AM

Another reason to pump big bucks into the oil company execs' wallets...
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Yankee829
Champion Author Dallas

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Message Posted: Aug 2, 2012 7:57:14 AM

Oh please!!
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gravityhurts
Champion Author North Carolina

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Message Posted: Aug 2, 2012 7:55:52 AM

more BS
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dbecks44
Champion Author Michigan

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Message Posted: Aug 2, 2012 7:55:40 AM

Still a lot there.
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deputydog082
Champion Author Detroit

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Message Posted: Aug 2, 2012 7:55:01 AM

gas prices are going thru the roof again!
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mustangdaver
Champion Author Ontario

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Message Posted: Aug 2, 2012 7:54:45 AM

makes no difference to gas prices ....it really doesn't
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mreiff
Champion Author Louisville

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Message Posted: Aug 2, 2012 7:54:10 AM

What a misleading title; oil supplies are still above last year's glut!
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Wizrd03
Champion Author Illinois

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Message Posted: Aug 2, 2012 7:54:10 AM

Sure, to make prices go up
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craigrm
Champion Author Connecticut

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Message Posted: Aug 2, 2012 7:53:17 AM

Nobama
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rnlunder
Champion Author Waco

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Message Posted: Aug 2, 2012 7:52:39 AM

Take oil and gasoline off of the global commodities markets and you will put the Speculators out of business, stop the see-saw oil and gas prices ans save 56 cents per gallon (estimated Speculator markup) at the pump.
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soccerdadMO
Champion Author St. Louis

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Message Posted: Aug 2, 2012 7:52:03 AM

4/gal on the way here I'm sure
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survken
Champion Author Indiana

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Message Posted: Aug 2, 2012 7:51:12 AM

Hold on tight, here it comes....
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autohio
Champion Author Ohio

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Message Posted: Aug 2, 2012 7:51:02 AM

Anything to raise prices, huh?
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bigLtowing
Champion Author Columbus

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Message Posted: Aug 2, 2012 7:50:16 AM

what ever
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JamesCalvin
Champion Author Lancaster

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Message Posted: Aug 2, 2012 7:48:56 AM

Up and down, but long term fundamentals reign supreme!
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malfrog1
Champion Author South Bend

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Message Posted: Aug 2, 2012 7:46:26 AM

The price just hit $3.99 in Elkhart, Indian this morning.
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METEOR49
Champion Author Ontario

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Message Posted: Aug 2, 2012 7:46:24 AM

if you use less oil then pig oil has only one option, raise the price to maintain their obscene profit levels . $166,000 a minute !!!!!!!
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swkcpi
Champion Author Madison

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Message Posted: Aug 2, 2012 7:45:59 AM

Another total crock of $hit.
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suportoffroad00
Champion Author Wisconsin

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Message Posted: Aug 2, 2012 7:45:18 AM

Here go's prices in the $ 4.00 range
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cableman31
Champion Author New York

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Message Posted: Aug 2, 2012 7:45:06 AM

EIA is just another FEDERAL JOKE, and a waste of taxpayer money.
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Topless2012
Champion Author Twin Cities

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Message Posted: Aug 2, 2012 7:45:01 AM

It is a small huge
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niceguytx
Champion Author Houston

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Message Posted: Aug 2, 2012 7:43:56 AM

Supply is reducing, so be prepared to conserve.
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cutter1330
Champion Author Oklahoma

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Message Posted: Aug 2, 2012 7:43:52 AM

Yea right!!!
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taxiken
Champion Author Twin Cities

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Message Posted: Aug 2, 2012 7:43:31 AM

Get the refineries back running.
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blueeye
Champion Author Pennsylvania

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Message Posted: Aug 2, 2012 7:42:48 AM

as gas price go up so does the price of food
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DougtheEconMan
Champion Author Akron

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Message Posted: Aug 2, 2012 7:42:23 AM

Overnite a refinery in Tulsa had some kind of incident. Total of four refineries and one pipeline this week are down. Keep your tanks and gas cans full these next several weeks!
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Garston
Champion Author Maine

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Message Posted: Aug 2, 2012 7:42:22 AM

ok
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