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EIA: Gasoline inventories post 14th straight weekly 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 increased by 0.9 million barrels to a total of 382.5 million barrels. At 382.5 million barrels, inventories are 11.6 million barrels above last year (3.1%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 3.3 million barrels to 201.0 million barrels. At 201.0 million barrels, inventories are down 8.7 million barrels, or 4.2% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-0.1mb); Midwest...

Read the Full Article

Submitted May 23, 2012 By: PD
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Author Topic: EIA: Gasoline inventories post 14th straight weekly drop Post a Reply Back to Topics
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Donatelo
Champion Author Dayton

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Message Posted: May 25, 2012 11:13:50 AM
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ok
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albert2008
Champion Author Winnipeg

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Message Posted: May 25, 2012 8:53:21 AM
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not nice
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otle53
Sophomore Author Las Vegas

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Message Posted: May 24, 2012 7:08:33 PM
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Snickersdog--funny! I concur.
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Alfied
Champion Author Riverside

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Message Posted: May 24, 2012 1:41:23 PM
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Up and down, up and down, makes the world go around.
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sparky808
Champion Author Honolulu

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Message Posted: May 24, 2012 1:26:25 PM
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Old post
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Donatelo
Champion Author Dayton

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Message Posted: May 24, 2012 12:36:42 PM
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Stop sending the oil we drill overseas. we say we want to be energy independent, then take few steps to do it.
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rjhaugh
Champion Author Virginia Beach

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Message Posted: May 24, 2012 12:25:38 PM
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There is no shortage of oil so that means the refining companies are creating an artificial gas shortage to keep prices high.
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GatorGuy
Champion Author Columbia

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Message Posted: May 24, 2012 12:00:05 PM
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Start kicking out that summer blend!
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ZeroBoxes
Champion Author Mississippi

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Message Posted: May 24, 2012 11:45:52 AM
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what agency watches the EIA? How do we trust unvalidated numbers without an outside source? The author has protections but always question numbers that don't look or feel right...find a second source. We have to keep em honest.

[Edited by: ZeroBoxes at 5/24/2012 11:51:08 AM EST]
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Virgin55
Veteran Author Ocala

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Message Posted: May 24, 2012 11:37:03 AM
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ok
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Clits
All-Star Author Louisiana

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Message Posted: May 24, 2012 11:06:47 AM
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Kick out the spectators and see a 40% drop! haha..
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puinsai808
Champion Author Honolulu

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Message Posted: May 24, 2012 10:50:24 AM
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It's SUPPLY and demand. Gasoline supply is too low.
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Wolfwings
Champion Author Delaware

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Message Posted: May 24, 2012 10:44:40 AM
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Oddly, there are no numbers on the oil sitting in tankers that have NOT BEEN DELIVERED.

Oil companies areholding supplies OFF-SHORE until they can find a way to jack up prices.
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dacofa
Champion Author Nevada

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Message Posted: May 24, 2012 10:42:04 AM
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Keeps them prices up.
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runway12
Champion Author Tacoma

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Message Posted: May 24, 2012 10:40:47 AM
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Petroleum Industry mandated decreases plan and simple. Oil needs a competitor and as soon as that happens so-called spring maintenance would be a thing of the past as it would be forced to compete for profit. Something the oil has never had to do before.
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KDAWGCA
Sophomore Author San Diego

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Message Posted: May 24, 2012 10:40:29 AM
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Drill baby drill!!!!!!!
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Don20
Champion Author Oklahoma City

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Message Posted: May 24, 2012 10:36:47 AM
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However you want to figure it, we are not running our of fuel.. People are using less...
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mikesr11
Champion Author New York City

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Message Posted: May 24, 2012 10:36:37 AM
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WHO TOOK THE INVENTORY? OBAMA OR BIDEN!
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bginsj
Champion Author San Jose

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Message Posted: May 24, 2012 10:35:48 AM
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its a ll a bunch of crap cause oil companies want to keep prices high
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GGAlbo
Champion Author Detroit

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Message Posted: May 24, 2012 10:34:43 AM
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Good!
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vjs3
Champion Author Denver

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Message Posted: May 24, 2012 10:34:18 AM
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Still wish I had a storage tank...
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adgam
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Message Posted: May 24, 2012 10:33:32 AM
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kk
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SnickersDog
Champion Author Denver

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Message Posted: May 24, 2012 10:33:01 AM
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Fewer people on the roads using less and less fuel, so they sell it over seas. People are just setting tight till November and the change that is coming. This administration would run a 7-11 into the ground.
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singlemom27
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Message Posted: May 24, 2012 10:30:27 AM
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market manipulation
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VernonOR
Champion Author Oregon

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Message Posted: May 24, 2012 10:29:52 AM
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Get ready for price gouging this Memorial Day weekend.
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stopforgas
All-Star Author Mississippi

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Message Posted: May 24, 2012 10:29:00 AM
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This doesn't make sense. According to this report inventories on the gulf coast dropped the most, 1.6mb, yet prices are falling thru the basement here. Regular is down to 3.13 at many stations. That doesn't sound like supply and demand pricing to me.
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TBecker1415
Champion Author Missouri

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Message Posted: May 24, 2012 10:28:53 AM
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I'm surprised someone hasn't said the "shortage" word from the 70's yet!
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eddyp94
Champion Author Ontario

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Message Posted: May 24, 2012 10:28:52 AM
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Just another reason to raise fuel prices...
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DozenSpeed
Champion Author St. Louis

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Message Posted: May 24, 2012 10:28:25 AM
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The Administration's $5/gallon gas plan is in trouble, better do something!
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W5IEM
Veteran Author Lexington

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Message Posted: May 24, 2012 10:27:35 AM
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Doesn't make sense to me...
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JimL1
Champion Author Phoenix

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Message Posted: May 24, 2012 10:27:18 AM
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When gasoline inventories get low enough, then supply is reduced and prices can increase.
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JCS
Champion Author Twin Cities

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Message Posted: May 24, 2012 10:26:26 AM
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Get ready for the shortage! $$$
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vincentV
All-Star Author Toronto

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Message Posted: May 24, 2012 10:26:01 AM
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jawohl!
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Insuremn
Champion Author Twin Cities

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Message Posted: May 24, 2012 10:24:16 AM
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Ok.
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herndonks
Champion Author Baltimore

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Message Posted: May 24, 2012 10:22:55 AM
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Just in time to make prices at the pump go up for the holiday weekend.
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pricechecker08
Champion Author Ohio

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Message Posted: May 24, 2012 10:22:39 AM
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Because there not making any so as to be able to push prices up. We are not stupid.
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swepson
Champion Author Greensboro

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Message Posted: May 24, 2012 10:22:17 AM
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And yet prices here continue to drop.
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Scoutca
All-Star Author Orange County

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Message Posted: May 24, 2012 10:21:32 AM
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Prices have just started to drop here in SoCal, very unusual as
I figured they would keep them up for the Memorial Day Weekend
then drop them so they could maximize their profit margin.....
However, I think the stations are really having their bottom line
crash and they figured they had better get the price down so they
could increase volume?!?! Hopefully thereby profitability.....
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techque
Champion Author St. Louis

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Message Posted: May 24, 2012 10:21:25 AM
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so refineries are obviously holding back product to force gasoline prices back up.
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Ready Eddie
Champion Author Twin Cities

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Message Posted: May 24, 2012 10:21:09 AM
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Numbers do not lie. However they can be twisted.
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dlzastera
Champion Author Minnesota

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Message Posted: May 24, 2012 10:20:05 AM
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Yes, what goes down goes up.
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MrLuigi
Champion Author Massachusetts

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Message Posted: May 24, 2012 10:19:03 AM
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if it wasn't such a waste of my ink and paper I'd start printing out these ridiculous reports just so I could start comparing them to see all the inconsistencies.....
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packards42
Champion Author Washington

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Message Posted: May 24, 2012 10:19:00 AM
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It just doesn't seem to mater at the pump!
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esorsd
Champion Author St. Louis

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Message Posted: May 24, 2012 10:18:50 AM
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Not a good sign.................
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paulp24
Champion Author Harrisburg

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Message Posted: May 24, 2012 10:17:18 AM
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Ok
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bigLtowing
Champion Author Columbus

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Message Posted: May 24, 2012 10:16:45 AM
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now that the refineries are getting back up and running it might help
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zimowski
Champion Author San Jose

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Message Posted: May 24, 2012 10:16:31 AM
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Prices finally beginning to drop in San Jose.
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WTLITNG
Champion Author Virginia

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Message Posted: May 24, 2012 10:16:00 AM
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Sounds like refinery output could solve the problem.
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Wildman14
Champion Author Virginia

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Message Posted: May 24, 2012 10:15:16 AM
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Wow! Seems like deja vu all over again.
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passin_gas2011
All-Star Author Ohio

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Message Posted: May 24, 2012 10:14:08 AM
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okay
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