Not Logged In Log In   Sign Up   Points Leaders
Follow Us    7:03 AM

GasBuddy News Article

49
votes
EIA: Second straight week featuring large gasoline build

GasBuddy Blog -- The Energy Information Administration released its weekly report on the status of petroleum inventories in the United States today.

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories increased by 0.8 million barrels to a total of 372.6 million barrels. At 372.6 million barrels, inventories are 38.5 million barrels above last year (11.5%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories increased by 5.0 million barrels to 212.1 million barrels. At 217.1 million barrels, inventories are down 1.7 million barrels, or 0.8% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+1.7mb); Midwest...


Read the Full Article

Submitted Dec 12, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: EIA: Second straight week featuring large gasoline build Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

Posts:24,310
Points:2,437,590
Joined:Nov 2008
Message Posted: Dec 15, 2012 7:55:12 AM

wang: anything to do w/ Pig Oil inventories and prices does not follow supply & demand. If it were, we'd have prices at the pump in the 1.50 range.
wang91554
Champion Author San Jose

Posts:6,406
Points:1,981,105
Joined:May 2009
Message Posted: Dec 13, 2012 12:19:52 PM

supply and demand at work...
paulp24
Champion Author Harrisburg

Posts:7,535
Points:1,623,235
Joined:Dec 2010
Message Posted: Dec 13, 2012 10:00:20 AM

Lets see what happens to retail.
85XJ
Champion Author Toledo

Posts:7,761
Points:1,896,220
Joined:Mar 2005
Message Posted: Dec 13, 2012 8:29:19 AM

Look at this article also here on GasBuddy: U.S. Refiners May Cut Gasoline Output on ‘Poor’ Sales, JBC Says

Now tell me the oil companies don't manipulate their inventories and supplies.

Nice to see the East Coast refineries are getting back on track.
bell05
Champion Author Atlanta

Posts:29,561
Points:2,684,235
Joined:Jun 2005
Message Posted: Dec 13, 2012 7:59:40 AM

My favorite worthless report.
matthwbar
Champion Author Toledo

Posts:7,241
Points:1,832,175
Joined:Jun 2007
Message Posted: Dec 13, 2012 7:07:01 AM

Interesting...
RUNNINONEMPTYFL
Champion Author Florida

Posts:1,463
Points:522,100
Joined:May 2011
Message Posted: Dec 13, 2012 7:04:20 AM

Here we go again...
gougenator
Champion Author Dallas

Posts:34,403
Points:4,024,375
Joined:Aug 2003
Message Posted: Dec 13, 2012 6:43:11 AM

welllll they lowered gas prices for a REASON ,,or else it would be business as usual (going up right after the election and MANY ppl driving now,,demand is demand :)))
jeskibuff
Champion Author Tampa

Posts:11,601
Points:2,238,680
Joined:May 2004
Message Posted: Dec 13, 2012 6:38:02 AM

Jeffro61 said: "Prices will force us into another recession."

It wasn't high gas prices that got us in the recession in the first place - it was the manipulation of the housing finance industry by Democrats. What WILL get us into another recession is higher taxes and continued reckless spending by the Obozo administration...you know, the same administration that promised us "Recovery Summer" a couple of years ago but delivered squat. They clearly don't have any idea what makes for a vibrant economy, so we're really screwed for the next 4 years.
rick_evans
Champion Author Boston

Posts:7,251
Points:1,826,365
Joined:Aug 2005
Message Posted: Dec 13, 2012 6:35:35 AM

oil-k
Jayburt
Champion Author Toledo

Posts:4,283
Points:692,280
Joined:Jun 2009
Message Posted: Dec 13, 2012 6:34:53 AM

Prices should be in the low $2 range or lower but they are not done making mega money off us yet. Add in the fact that state governments are taxing gas more and more as a unseen 'tax' and we the people get screwed once again..
pitamon
Champion Author Philadelphia

Posts:7,585
Points:2,599,230
Joined:Sep 2004
Message Posted: Dec 13, 2012 6:33:18 AM

So when is the drop going to happen here?
prcoqui
Champion Author Maryland

Posts:5,837
Points:2,187,675
Joined:Dec 2006
Message Posted: Dec 13, 2012 6:33:10 AM

Who the heck knows?
fordfan1
Champion Author Indiana

Posts:12,443
Points:2,700,235
Joined:Jul 2007
Message Posted: Dec 13, 2012 6:31:30 AM

Good to hear but this as we know will be short lived!!!! The refineries will surely cut production to drive the prices back up!!!!
otherdave
Champion Author Indiana

Posts:6,786
Points:2,078,565
Joined:Oct 2008
Message Posted: Dec 13, 2012 6:31:29 AM

And gas is still over $3.00
bhb2009
Veteran Author Flint

Posts:294
Points:1,425,055
Joined:Jul 2009
Message Posted: Dec 13, 2012 6:31:12 AM

never
GasPriceHelp4u
Champion Author Dayton

Posts:6,066
Points:1,378,300
Joined:Jul 2008
Message Posted: Dec 13, 2012 6:30:23 AM

Does that mean prices at the pump going to drop?
KentuckyWildcat
Champion Author Maryland

Posts:9,332
Points:2,219,355
Joined:Mar 2005
Message Posted: Dec 13, 2012 6:28:57 AM

Old news
Clayton2000
Champion Author South Carolina

Posts:3,232
Points:652,010
Joined:Oct 2008
Message Posted: Dec 13, 2012 6:28:52 AM

So
oldred11
Champion Author Indianapolis

Posts:4,824
Points:1,537,545
Joined:Mar 2011
Message Posted: Dec 13, 2012 6:28:47 AM

Yesterday's news. . .
jppezz
Champion Author New Mexico

Posts:11,947
Points:2,498,820
Joined:Jun 2008
Message Posted: Dec 13, 2012 6:28:07 AM

So when will the prices be dropping?
sappie
Champion Author Massachusetts

Posts:6,265
Points:1,279,365
Joined:Jul 2010
Message Posted: Dec 13, 2012 6:28:07 AM

ya.now what?
keithyoon1977
Champion Author Virginia

Posts:4,683
Points:1,294,570
Joined:Dec 2011
Message Posted: Dec 13, 2012 6:28:01 AM

ok
dar 1
Champion Author Michigan

Posts:9,156
Points:604,905
Joined:Jan 2005
Message Posted: Dec 13, 2012 6:27:15 AM

It supposed to build...ITS WINTER....
swede
Champion Author Cleveland

Posts:6,051
Points:2,436,600
Joined:Feb 2003
Message Posted: Dec 13, 2012 6:26:11 AM

ok
nb52
Champion Author Grand Rapids

Posts:11,121
Points:2,349,915
Joined:Nov 2008
Message Posted: Dec 13, 2012 6:25:53 AM

Thanks, overpaid bureaucrats.
FocusST2
Champion Author North Carolina

Posts:10,883
Points:2,154,620
Joined:Jul 2009
Message Posted: Dec 13, 2012 6:25:12 AM

Strange no mention by the EIA of $8 gallon fuel or $268 a barrel oil in 2040.
rogerparry
Champion Author Florida

Posts:12,965
Points:2,743,580
Joined:Jan 2008
Message Posted: Dec 13, 2012 6:25:08 AM

Hopefully the prices will drop.
oas
Champion Author Maryland

Posts:7,594
Points:2,946,565
Joined:Feb 2005
Message Posted: Dec 13, 2012 6:24:04 AM

I've never grasped what impact inventories have on pump price.
fillerupyeoww
Champion Author Columbus

Posts:9,003
Points:2,399,205
Joined:Mar 2008
Message Posted: Dec 13, 2012 6:22:52 AM

Good. We need inventories.
RichWLIN
Champion Author Indiana

Posts:8,648
Points:1,475,605
Joined:Jun 2011
Message Posted: Dec 13, 2012 6:21:12 AM

"The Energy Information Administration" part of Big Brother's machine says...
installer
Champion Author San Diego

Posts:4,104
Points:1,295,810
Joined:Nov 2008
Message Posted: Dec 13, 2012 6:19:44 AM

When money is tight, people stay home and concentrate on family matters. I understand that this time of year the supply does go up. Snow and rain and cold tend to take the shine off travel.
Jeffro61
Champion Author Cleveland

Posts:5,189
Points:3,012,975
Joined:Oct 2005
Message Posted: Dec 13, 2012 6:19:35 AM

Prices will force us into another recession.
teamsimons
Champion Author South Carolina

Posts:4,027
Points:1,110,335
Joined:Aug 2011
Message Posted: Dec 13, 2012 6:19:09 AM

Ah, two increases in inventories. Is there a correlation between this and slightly lower gas prices in South Carolina? Probably not.
Hunter114
Champion Author Chicago

Posts:17,287
Points:2,251,235
Joined:Apr 2009
Message Posted: Dec 13, 2012 6:18:58 AM

a yo-yo.
subnuke
Champion Author Atlanta

Posts:10,358
Points:2,284,810
Joined:Sep 2008
Message Posted: Dec 13, 2012 6:18:19 AM

intersting
swede
Champion Author Cleveland

Posts:6,051
Points:2,436,600
Joined:Feb 2003
Message Posted: Dec 13, 2012 6:17:27 AM

This could be telling us that the people are starting to reduce spending because of an impending recession.
tamiuron
Champion Author Laredo

Posts:2,104
Points:1,470,655
Joined:Jan 2011
Message Posted: Dec 13, 2012 6:16:52 AM

up down up
friday21
Champion Author Toronto

Posts:10,186
Points:1,438,170
Joined:Jul 2010
Message Posted: Dec 13, 2012 6:16:00 AM

ok
alphanyr
Champion Author Connecticut

Posts:11,875
Points:1,498,625
Joined:Apr 2011
Message Posted: Dec 13, 2012 6:15:43 AM

Ok
Luckylindy
Champion Author Milwaukee

Posts:7,589
Points:1,903,705
Joined:May 2008
Message Posted: Dec 13, 2012 6:14:15 AM

It means another recession.
FieroGT
Champion Author Twin Cities

Posts:16,874
Points:3,065,245
Joined:Mar 2005
Message Posted: Dec 13, 2012 6:14:14 AM

Our average metro pump price today is $3.12/gal
Ringmaster2008
Champion Author Ontario

Posts:10,697
Points:1,738,280
Joined:Apr 2008
Message Posted: Dec 13, 2012 6:13:57 AM

With apparent differnce between supply and demand, prices should be dropping like stones. Unfortunately they are not.
514gallows
Sophomore Author New Jersey

Posts:114
Points:24,005
Joined:Dec 2012
Message Posted: Dec 13, 2012 6:10:58 AM

not sure what all this means
isem
Champion Author Missouri

Posts:5,299
Points:1,252,765
Joined:Feb 2012
Message Posted: Dec 13, 2012 6:03:27 AM

The increased inventory will not have the consumer’s desired effect of substantially lower prices.
raccoon2011
Champion Author Massachusetts

Posts:4,777
Points:1,155,240
Joined:Aug 2011
Message Posted: Dec 13, 2012 6:03:21 AM

ok
Delight777
Sophomore Author Cleveland

Posts:245
Points:1,021,560
Joined:Oct 2011
Message Posted: Dec 13, 2012 6:02:42 AM

Good to hear!
BurkeDevlin
Champion Author Maine

Posts:1,110
Points:274,450
Joined:Sep 2012
Message Posted: Dec 13, 2012 6:02:39 AM

Thanks
ysmc
Champion Author Providence

Posts:13,941
Points:2,786,560
Joined:Apr 2007
Message Posted: Dec 13, 2012 6:02:28 AM

East and West Coast refineries are operating at only 79% capacity while the rest of the nation is operating at 90 to 95% capacity. So the "blue states" have an artificial shortage and pay higher prices than the red states. This is price manipulation by the oil companies and refineries.It is wrong.
LeeFree
Champion Author Pittsburgh

Posts:12,479
Points:3,043,725
Joined:Jun 2005
Message Posted: Dec 13, 2012 6:01:52 AM

Prices finally falling to the $3.50 level here.
scottydoesnt
Champion Author Chicago

Posts:4,552
Points:608,750
Joined:Apr 2011
Message Posted: Dec 13, 2012 6:00:01 AM

I'm curious what my next car purchase will be in 3-4 years. Hopefully another 15 year old car that costs around $2k again, and only $18/month to insure.
Post a reply Back to Topics