Not Logged In Log In   Sign Up   Points Leaders
Follow Us    5:37 AM

GasBuddy News Article

44
votes
EIA reports rise in both crude oil and gasoline inventories

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 increased to 380.1 from 377.4 million barrels in the previous week. At 380.1 million barrels, inventories are 26.1 million barrels above last year (7.4%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories increased by 4.1 million barrels to 210.0 million barrels. At 210 million barrels, inventories are down 3.4 million barrels, or 1.6% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+1.9mb); Midwest...


Read the Full Article

Submitted Jul 25, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: EIA reports rise in both crude oil and gasoline inventories Back to Topics
REPLIES (newest first) Post a Reply
rocket_ron
Champion Author Grand Rapids

Posts:9,622
Points:2,765,960
Joined:Jul 2006
Message Posted: Aug 21, 2012 10:36:17 AM

K
Donatelo
Champion Author Dayton

Posts:1,223
Points:331,165
Joined:Apr 2011
Message Posted: Aug 20, 2012 9:51:57 AM

now lower prices should follow.
albert2008
Champion Author Winnipeg

Posts:10,566
Points:2,261,020
Joined:Sep 2008
Message Posted: Aug 20, 2012 8:22:12 AM

thats good
pfone1847
Champion Author Illinois

Posts:6,570
Points:1,445,060
Joined:Oct 2010
Message Posted: Aug 20, 2012 6:37:12 AM

Hmm
Reishman
Veteran Author Illinois

Posts:394
Points:1,167,140
Joined:Sep 2006
Message Posted: Jul 31, 2012 11:45:02 AM

I blame Obama!
albert2008
Champion Author Winnipeg

Posts:10,566
Points:2,261,020
Joined:Sep 2008
Message Posted: Jul 31, 2012 8:19:29 AM

good stuff
ggg452
Champion Author Manitoba

Posts:4,972
Points:1,144,920
Joined:May 2012
Message Posted: Jul 31, 2012 8:07:44 AM

Gas prices are therefore not connected to crude prices, inventories or even gas inventories... ok folks slow down and try to increase your efficency... oil companies might make a little less and then supply/demand economics might take hold.
OHMS
Champion Author Orange County

Posts:17,390
Points:2,513,920
Joined:May 2005
Message Posted: Jul 31, 2012 3:42:20 AM

The Energy Information Administration released its weakly report
honda0105
Champion Author Tallahassee

Posts:24,351
Points:2,446,590
Joined:Nov 2008
Message Posted: Jul 30, 2012 4:39:35 AM

albert: greed. Plain ol' Pig Oil greed.
albert2008
Champion Author Winnipeg

Posts:10,566
Points:2,261,020
Joined:Sep 2008
Message Posted: Jul 29, 2012 8:16:10 AM

so why have prices not fallen
albert2008
Champion Author Winnipeg

Posts:10,566
Points:2,261,020
Joined:Sep 2008
Message Posted: Jul 29, 2012 8:16:10 AM

so why have prices not fallen
honda0105
Champion Author Tallahassee

Posts:24,351
Points:2,446,590
Joined:Nov 2008
Message Posted: Jul 29, 2012 6:41:15 AM

yawn. Nothing to do w/ prices as the Pig Oil cartell sets prices as it pleases.
gravityhurts
Champion Author North Carolina

Posts:5,648
Points:1,654,105
Joined:Sep 2008
Message Posted: Jul 27, 2012 8:15:20 AM

repeat
wshutton
Champion Author Albuquerque

Posts:5,022
Points:1,719,960
Joined:Mar 2009
Message Posted: Jul 26, 2012 4:34:32 PM

More supply should equal lower prices.
SUV2009
Champion Author Orlando

Posts:6,736
Points:1,905,595
Joined:Oct 2009
Message Posted: Jul 26, 2012 3:05:47 PM

So why do we still see high pump prices?
txrojo2005
Champion Author Austin

Posts:1,503
Points:1,142,615
Joined:May 2011
Message Posted: Jul 26, 2012 11:30:55 AM

Yep. No growth yet.
mswillia
Champion Author Milwaukee

Posts:4,267
Points:902,805
Joined:Feb 2010
Message Posted: Jul 26, 2012 11:19:35 AM

so prices should come down, but someone in the refinery farted so it will go up but the wind is from the west so it will come down, but the day name ended with 'y' so it will go up.....
QualTekGuy
Champion Author Illinois

Posts:4,474
Points:1,457,715
Joined:Feb 2007
Message Posted: Jul 26, 2012 10:10:39 AM

Inventories are up, so prices at the pump should go down, unless the station owners find that they don't have to. In other words, unless people stop going to the closest station regardless of price.
BihnX
Rookie Author Ontario

Posts:24
Points:49,385
Joined:May 2012
Message Posted: Jul 26, 2012 9:58:03 AM

I am sure somehow they can turn that into an excuse for raising prices...
bell05
Champion Author Atlanta

Posts:29,654
Points:2,691,310
Joined:Jun 2005
Message Posted: Jul 26, 2012 8:58:07 AM

Yesterday news.
Blismo
Champion Author Arizona

Posts:2,569
Points:498,810
Joined:Feb 2012
Message Posted: Jul 26, 2012 8:20:31 AM

ok
SavALot
Champion Author Virginia Beach

Posts:10,870
Points:2,477,035
Joined:Apr 2005
Message Posted: Jul 26, 2012 8:18:14 AM

The repositories stay consistent
treehood
Champion Author San Diego

Posts:5,474
Points:1,236,260
Joined:May 2011
Message Posted: Jul 26, 2012 8:05:40 AM

To those responders referring to "why are prices rising", it's a good question. Perhaps they should take a look at some events happening as sometimes reported on the MSM but more often only hinted at in the stories. Food production worldwide is down, pestilence may become a noticeable concern in the near future, conflict is increasingly possible in several theaters (not the movies, but specific areas of the world) I believe we are up to QE3 which probably won't work but will certainly bring its share of misery and instability. And more if you want to look and listen.
I believe we are being told something but some just don't want to listen and prepare.
On the other hand, there is much good that could occur. Science and manufacturing progress continues and may save us or even a good sized plague could wipe out most of us throughout the world, redistributing wealth and power. If you look at what the consequences of the Black Plague were, you can find a tremendous benefit to western Europe. And I didn't even mention how beneficial a large asteroid strike was to us about 65 million years ago. So keep a good thought.
boatmen
Champion Author New York

Posts:5,800
Points:1,319,640
Joined:Jan 2011
Message Posted: Jul 26, 2012 8:03:32 AM

as INVENTORIES go up so do prices Greedy Biches
dlemma
Champion Author Wyoming

Posts:7,296
Points:2,358,195
Joined:Feb 2008
Message Posted: Jul 26, 2012 8:02:25 AM

means nothing because it comes from Obama administration.
daquanabe
Champion Author Houston

Posts:3,435
Points:826,000
Joined:Oct 2009
Message Posted: Jul 26, 2012 8:01:19 AM

Yeah, and...
SUSANCK
Champion Author Chicago

Posts:6,391
Points:1,320,750
Joined:Apr 2011
Message Posted: Jul 26, 2012 7:59:54 AM

So what, means nothing.
RaginCajun68
All-Star Author Fort Worth

Posts:867
Points:292,750
Joined:Sep 2005
Message Posted: Jul 26, 2012 7:59:29 AM

And prices are on the rise?
RamboOn66
Champion Author Tampa

Posts:8,478
Points:2,660,310
Joined:Jan 2006
Message Posted: Jul 26, 2012 7:59:25 AM

So how do pump prices increase?
harleyhusker
Champion Author South Dakota

Posts:1,077
Points:1,426,600
Joined:Dec 2005
Message Posted: Jul 26, 2012 7:56:52 AM

Price will...?
TXGasPriceSpy
Champion Author Fort Worth

Posts:11,233
Points:2,277,975
Joined:Sep 2008
Message Posted: Jul 26, 2012 7:56:44 AM

The EIA is just another joke and waste of money.
sit
Champion Author Cleveland

Posts:8,438
Points:2,739,550
Joined:Feb 2006
Message Posted: Jul 26, 2012 7:56:35 AM

OK
blah2blah3
Champion Author Houston

Posts:5,942
Points:1,436,100
Joined:May 2011
Message Posted: Jul 26, 2012 7:54:27 AM

ok
bigsranch
Champion Author Houston

Posts:3,751
Points:1,165,860
Joined:Apr 2007
Message Posted: Jul 26, 2012 7:54:07 AM

Signs of a bad economy
DaisysMomNC
All-Star Author North Carolina

Posts:959
Points:200,850
Joined:Jan 2012
Message Posted: Jul 26, 2012 7:53:57 AM

old news
porotito
Champion Author Houston

Posts:2,276
Points:615,055
Joined:Dec 2010
Message Posted: Jul 26, 2012 7:53:47 AM

Zzzzzz
buzzieNY
Champion Author Buffalo

Posts:6,182
Points:1,429,050
Joined:Jun 2011
Message Posted: Jul 26, 2012 7:53:37 AM

I wonder how many tax eating people work there..
Dale Jr.
Champion Author Illinois

Posts:19,620
Points:4,050,025
Joined:May 2004
Message Posted: Jul 26, 2012 7:53:26 AM

Yada Yada
tomok
Champion Author Portland

Posts:46,827
Points:3,176,435
Joined:Aug 2006
Message Posted: Jul 26, 2012 7:52:59 AM

Crude oil inventories increased, Gasoline inventories increased, Distillate inventories increased, total Refinery utilization increased 1%, Total US oil stocks are up 2.5%. Pump prices have been rising, refinery utilization in the 90% plus, except the East Coast @ 86.7% and West Coast @ 88%. Gasoline and Crude Oil inventories increased - that is a Good thing, higher prices at the pump is a Bad thing!
Big Oil continues to sell fuel and natural gas on the world market for higher prices, there will be NO price reduction for the cost of fuel or natural gas IN the US. 'Coming out of the closet' Barry will support natural gas and oil production for sale on the world market to pay for his ‘spending gone wild’ addiction and receive the huge federal tax income from oil. Barry's economy is not improving but continues to hurt the population and the job numbers continues to be down – no matter how smooth talking Barry spins those numbers and he can spin them! People will still drive and buy fuel no matter what but it sure helps to have a job too!
The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! Speculators, manipulators and the banks continue to unfairly and unjustly make the driving public pay higher prices at the pump for their personal benefit.
How much will gas prices go up and they will rise, the trend is always up with fuel prices. The price at the pump needs to go down to $2/gallon, $3 to $3.50/gallon is Not the new low!
Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost.
The price of fuel at the pump is too high!
12/22/2012!
WhiteTreeIndian
Champion Author New Jersey

Posts:8,817
Points:1,880,710
Joined:Dec 2009
Message Posted: Jul 26, 2012 7:52:38 AM

Excuses like that always work the other way too.
SSchmidty
Champion Author Illinois

Posts:12,666
Points:2,564,690
Joined:Mar 2008
Message Posted: Jul 26, 2012 7:52:32 AM

Of course, it makes perfect sense that as the supplies available INCREASE the prices at the gas pump should go up as well.

We're the "small dog" being led by the smelly end of the greedy pig-oil industry!
my2002m
Champion Author Tulsa

Posts:9,324
Points:2,498,440
Joined:Jul 2008
Message Posted: Jul 26, 2012 7:52:23 AM

But it won't make prices decline.
dynamouse
Champion Author Michigan

Posts:6,673
Points:2,350,230
Joined:Dec 2006
Message Posted: Jul 26, 2012 7:52:20 AM

Remember obama wants gas at $5-6 a gal,he stopped the pipe line ,he held up drilling permits,wastd tax payer money on green technology ,all of the vacations hes been on this CLOWN has to go
WhiteTreeIndian
Champion Author New Jersey

Posts:8,817
Points:1,880,710
Joined:Dec 2009
Message Posted: Jul 26, 2012 7:52:13 AM

We would hope that would lower prices.
teatiger
Champion Author Dallas

Posts:6,066
Points:2,310,415
Joined:Nov 2008
Message Posted: Jul 26, 2012 7:52:04 AM

ok
dopster
Champion Author Toledo

Posts:11,316
Points:3,105,050
Joined:Aug 2004
Message Posted: Jul 26, 2012 7:51:55 AM

How about refining capacity?
PettyEddie2012
Champion Author New York City

Posts:4,332
Points:948,060
Joined:May 2012
Message Posted: Jul 26, 2012 7:51:39 AM

PettyEddie reports rise in both soda and juice inventories inside his refrigerator.
ratboy1968
Champion Author Montreal

Posts:6,005
Points:1,387,075
Joined:Oct 2011
Message Posted: Jul 26, 2012 7:51:34 AM

ok
TheSicilian
Champion Author Jacksonville

Posts:8,769
Points:2,312,430
Joined:Feb 2009
Message Posted: Jul 26, 2012 7:50:27 AM

dosen't make a difference in price of gas
h2ojumper
Champion Author Austin

Posts:5,905
Points:1,531,560
Joined:Feb 2011
Message Posted: Jul 26, 2012 7:50:09 AM

Ok
SmokeFan14
Champion Author St. Louis

Posts:2,725
Points:1,760,210
Joined:Oct 2008
Message Posted: Jul 26, 2012 7:50:08 AM

Good
Post a reply Back to Topics