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EIA: Crude and gasoline inventories up big

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 by 4.2 million barrels to a total of 338.9 million barrels. At 338.9 million barrels, inventories are 4.2 million barrels below last year (-1.2%) and are in the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories increased by 3.0 million barrels to 230.1 million barrels. At 230.1 million barrels, inventories are 6.1 million barrels, or 2.6% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+2.7mb); Midwest ...

Read the Full Article

Submitted Feb 01, 2012 By: PD
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1006
Champion Author Birmingham

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Message Posted: Feb 5, 2012 6:52:13 PM
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moving on up
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1006
Champion Author Birmingham

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Message Posted: Feb 3, 2012 9:10:26 PM
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have to agree with you smoke
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123cowboy
Champion Author Maine

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Message Posted: Feb 2, 2012 7:01:58 PM
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more smoke and mirrors...
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tomok
Champion Author Portland

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Message Posted: Feb 2, 2012 4:05:43 AM
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Crude oil inventories increased, Gasoline inventories increased, Distillate inventories decreased and Refinery utilization fell. Total oil stocks in the US are down. ‘Almost’ the same as last week.
STOP Big oil from selling 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. Barry will support natural gas and oil production for sale on the world market to pay for his ‘spending gone wild’ addiction. 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.
Produce and ‘drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
12/22/2012!
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TIGERPAW46
Champion Author Florida

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Message Posted: Feb 2, 2012 1:40:31 AM
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The Only way to better stabilize petroleum prices is to stop or control Speculation on Commodities Futures. Washington knows this but refuses to insist that it be done. The other way is to regulate Exportation to keep prices lower in the USA. Many other nations have no problem doing this via laws or Export Taxes.
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NOTSOGRN
Champion Author Michigan

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Message Posted: Feb 2, 2012 1:25:58 AM
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.
.
If one's demand was down & could find another buyer would you do that...exporting keeps it running.
.
If it meant keeping the business producing @ least till demand pick backup or shutting the door...
.
The doors have been shut the demand returns now not enough producers...gee what happen to the good old day's when gas was 3.41...
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GryphonX
Champion Author Nevada

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Message Posted: Feb 2, 2012 1:20:47 AM
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Then WHY are prices climbing ...?
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Focus2
Champion Author Illinois

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Message Posted: Feb 2, 2012 1:11:44 AM
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Amazing how hard refineries can work when they get to charge what they want and double their exports of fuel to other countries!
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NOTSOGRN
Champion Author Michigan

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Message Posted: Feb 2, 2012 1:10:31 AM
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.
.
Who's really making the money. ExxonMobil’s earnings: The real story you won’t hear in Washington First 1/4 2011 ____ Total Expenses $77.1 billion ___ Earnings $10.7 billion __ The Gov's take $ 26.2 billion ... That's more than double what ExxonMobil made. .
.
ExxonMobil’s earnings: The real story you won’t hear in Washington

[Edited by: NOTSOGRN at 2/2/2012 1:12:20 AM EST]
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Zonk
Champion Author Michigan

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Message Posted: Feb 2, 2012 1:06:51 AM
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Small changes in inventory, generally have little effect on pump prices.
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Bill100
Champion Author Grand Rapids

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Message Posted: Feb 2, 2012 12:58:58 AM
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Good news. Not that it really matters, though.
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bobdec
Champion Author Florida

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Message Posted: Feb 2, 2012 12:54:50 AM
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SO, why are prices still going up
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nomad228
Champion Author Columbus

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Message Posted: Feb 2, 2012 12:53:44 AM
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still needs to be ten times that.
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CarolinaBlue150
Champion Author North Carolina

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Message Posted: Feb 2, 2012 12:52:52 AM
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and so are prices. Makes no sense.
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defiancegasman
Champion Author Ohio

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Message Posted: Feb 2, 2012 12:52:45 AM
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But BIG OIL still gets away with PRICE GOUGING us. Add to that all the RECORD PROFITS they are making during a US and WORLD RECESSION.
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AnObserver
Champion Author New Jersey

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Message Posted: Feb 2, 2012 12:52:38 AM
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That's what happens when proces get too high and people stop buying
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heartbroken2010
Champion Author Ottawa

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Message Posted: Feb 2, 2012 12:48:39 AM
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ok then , lower the prices for a bit , give us a little mercy.
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RAKARWOWSKI
Champion Author Chicago

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Message Posted: Feb 2, 2012 12:48:07 AM
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So what! Big oil will still screw us in the end.
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Double_Golden
All-Star Author San Francisco

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Message Posted: Feb 2, 2012 12:47:54 AM
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good
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pgerassi
Champion Author Milwaukee

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Message Posted: Feb 2, 2012 12:46:37 AM
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Demand is down and so should prices be.
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Rageagainsttm
Champion Author Tampa

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Message Posted: Feb 2, 2012 12:40:14 AM
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sure
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goldrose1
Champion Author Cleveland

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Message Posted: Feb 2, 2012 12:36:20 AM
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Small businesses can't afford fuel costs.
Won't be solid new jobs this way.
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regout
Champion Author Quebec

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Message Posted: Feb 2, 2012 12:35:37 AM
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Prices stays high.
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chuckwthompson
Champion Author Charlotte

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Message Posted: Feb 2, 2012 12:28:05 AM
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Inventories up? Don't worry, big oil will sell off our reserves just so we can buy them back at a large increase in price.

What is wrong with the oil companies? GREED We need to regulate these greedy b**tards!
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judgemobile
Champion Author Ohio

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Message Posted: Feb 2, 2012 12:26:44 AM
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If inventories are WAY UP, why is Gas Buddy sending out BIG price hike warnings ???
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BWJM
All-Star Author KW

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Message Posted: Feb 2, 2012 12:23:24 AM
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ok
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leraar2
Champion Author Massachusetts

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Message Posted: Feb 2, 2012 12:22:11 AM
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we don't need to drill more as much as build new, publicly owned, refineries to keep the gougers in line.
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jkpsr
Champion Author New Jersey

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Message Posted: Feb 2, 2012 12:21:21 AM
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Maybe the Obama Administration should take another look at selling the SPR, at least to ourselves.
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Colts13
All-Star Author Indiana

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Message Posted: Feb 2, 2012 12:20:58 AM
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ok
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Ahking
Champion Author Orange County

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Message Posted: Feb 2, 2012 12:19:25 AM
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let's take a longer look & see if this trend continues.
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TXRanger09
Champion Author Dallas

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Message Posted: Feb 2, 2012 12:19:19 AM
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Oh sure. Export of gasoline is greater than import. Hope our trade deficit reflects this.
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Rooster922
Champion Author Wilmington

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Message Posted: Feb 2, 2012 12:18:55 AM
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I don't need that information, regardless, the price of gas has a mind of its own.
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bikechuck
Champion Author Indianapolis

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Message Posted: Feb 2, 2012 12:18:43 AM
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As prices go up, inventories also seem to go up.
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Blue_Cruzer
Champion Author Lexington

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Message Posted: Feb 2, 2012 12:17:48 AM
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So what is causing all the turmoil in price of gas?
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Matt G
Champion Author Boston

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Message Posted: Feb 2, 2012 12:17:15 AM
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Prices still rising
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GasholeMI
Champion Author Lansing

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Message Posted: Feb 2, 2012 12:16:29 AM
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Let the cup runneth over.
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joel27nc
Champion Author Raleigh

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Message Posted: Feb 2, 2012 12:15:54 AM
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Blah, Blah, Blah. Bring the prices down.
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frostyWV
Champion Author West Virginia

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Message Posted: Feb 2, 2012 12:15:31 AM
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ok
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NO_SWEAT
Champion Author Toronto

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Message Posted: Feb 2, 2012 12:15:16 AM
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So why haven't price fallen?
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twiper1
Champion Author San Diego

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Message Posted: Feb 2, 2012 12:14:17 AM
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And so are prices
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carpenter4u
Champion Author Virginia

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Message Posted: Feb 2, 2012 12:12:57 AM
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So why the big increase in prices
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rawdog1313
Champion Author Lexington

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Message Posted: Feb 2, 2012 12:12:51 AM
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Gas prices are driven by non regulated Oil Speculation......
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Buddy2264
Champion Author Tampa

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Message Posted: Feb 2, 2012 12:12:13 AM
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It is all about profit now, not supply and demand.
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cloud23465
Champion Author Virginia Beach

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Message Posted: Feb 2, 2012 12:12:06 AM
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Yet were still getting screwed at the pumps... every day, more and more.
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herndonks
All-Star Author Baltimore

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Message Posted: Feb 2, 2012 12:10:53 AM
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Then there is no real economic reason for high gas pyices, other than fear and greed.
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tedjm1
Champion Author New York

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Message Posted: Feb 2, 2012 12:10:38 AM
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Never mind this, explain price increses which makes sense. My take is they want greater profits. Period....
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JENNYHK
Champion Author Chicago

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Message Posted: Feb 2, 2012 12:08:30 AM
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More statistics
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biza4u
Champion Author New Haven

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Message Posted: Feb 2, 2012 12:08:09 AM
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And so are the prices
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1cheapgasin
Champion Author Indianapolis

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.
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SUSANCK
Champion Author Chicago

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Message Posted: Feb 2, 2012 12:00:34 AM
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Speculators set the price
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