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EIA: Crude inventories rise to highest since 1990, gasoline inventories fall again

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 2.1 million barrels to a total of 381.6 million barrels. At 381.6 million barrels, inventories are 11.3 million barrels above last year (3.1%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 2.8 million barrels to 204.3 million barrels. At 204.3 million barrels, inventories are down 1.6 million barrels, or 0.8% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (N/C); Midwest...


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Submitted May 16, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: EIA: Crude inventories rise to highest since 1990, gasoline inventories fall again Back to Topics
REPLIES (newest first) Post a Reply
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Donatelo
Champion Author Dayton

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Message Posted: May 22, 2012 9:30:31 AM

ok
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Donatelo
Champion Author Dayton

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Message Posted: May 21, 2012 5:23:29 PM

yep
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Donatelo
Champion Author Dayton

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Message Posted: May 20, 2012 10:55:49 AM

ok
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albert2008
Champion Author Winnipeg

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Message Posted: May 20, 2012 8:08:46 AM

so let the prices fall
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honda0105
Champion Author Tallahassee

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Message Posted: May 20, 2012 7:18:02 AM

another useless statistic. Just good for causing panic.
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papa56NC
All-Star Author North Carolina

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Message Posted: May 17, 2012 10:48:40 PM

Gid-r-dun then
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sydb7
Champion Author Atlanta

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Message Posted: May 17, 2012 10:03:38 PM

n/a
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my2002m
Champion Author Tulsa

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Message Posted: May 17, 2012 6:28:53 PM

But prices at the pump won't fall.
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UncaLar
Champion Author Indiana

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Message Posted: May 17, 2012 12:12:54 PM

Come on gas... time to catch up!
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Jebeahm
Champion Author Maryland

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Message Posted: May 17, 2012 11:10:14 AM

Still say manipulation
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40mpgsaturn
Champion Author Wisconsin

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Message Posted: May 17, 2012 8:50:56 AM

Prices are down here to $3.69 but go 20 miles east & prices are $3.79 & 20 miles north are at $3.60??
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PettyEddie2012
Champion Author New York City

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Message Posted: May 17, 2012 8:39:31 AM

The USA consumes around 19 to 20 million barrels of oil PER DAY. An inventory of 381.6 million barrels of crude is only 19.5 days worth of consumption (381.6 divided by 19.5).

Of the 19 to 20 million barrels of oil consumed, close to HALF of that is refined into gasoline. The USA consumes close to 10 million barrels of gasoline PER DAY. An inventory of 204.3 million barrels of gasoline is only a little over 20 days worth of consumption (204.3 divided by 10).

I fail to see how having only a 19-20 day supply of anything causes the market to think we are "swimming in oversupply" of that item.
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5kvdave
All-Star Author Los Angeles

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Message Posted: May 17, 2012 8:38:43 AM

What will be their next reason to not lower fuel prices.
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malfrog1
Champion Author South Bend

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Message Posted: May 17, 2012 8:38:12 AM

SO the prices will rise anyway, in the long term.
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MacGyver_1701
Champion Author Indiana

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Message Posted: May 17, 2012 8:31:46 AM

at this point, it seems like refineries may be trying to manipulate supply to keep prices high. Crude is not a shortage issue right now.
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stpatrickbday
Champion Author Albuquerque

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Message Posted: May 17, 2012 8:31:33 AM

Really?
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slgas
Champion Author Houston

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Message Posted: May 17, 2012 8:30:58 AM

Did the west coast refining problem have any impact on these figures?
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Bullseye520
Champion Author Louisville

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Message Posted: May 17, 2012 8:27:58 AM

So, how will this effect the pump price?
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RADIOCANADA499
Champion Author Ontario

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Message Posted: May 17, 2012 8:24:06 AM

ok
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5Golfer8
Champion Author Tucson

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Message Posted: May 17, 2012 8:23:32 AM

Obamas artificial shortage to keep prices high and you a slave to the government.
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Jakster
Champion Author Allentown

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Message Posted: May 17, 2012 8:23:05 AM

Stop closing refineries and this wouldn't be a problem.
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BudsterMO
Champion Author Kansas City

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Message Posted: May 17, 2012 8:22:50 AM

More grist for the speculator mill. Stop Oil Speculation (SOS) NOW!
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teatiger
Champion Author Dallas

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Message Posted: May 17, 2012 8:21:37 AM

lets go for $80 a barrel and $1.43 a gallon! Like when BUSH was in office!!!!
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radstoy
Champion Author Pennsylvania

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Message Posted: May 17, 2012 8:21:02 AM

just the way "O" wants it.
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wt0826
Champion Author Ontario

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Message Posted: May 17, 2012 8:20:36 AM

ok
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NickoliMB
Champion Author Manitoba

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Message Posted: May 17, 2012 8:20:25 AM

Exactly BCM1. In comparison we are way down in consumption, but just cut back at the refineries to lessen output and then screw the customer with ridiculous price hikes.
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chvytruk
All-Star Author Kentucky

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Message Posted: May 17, 2012 8:20:19 AM

In a free-market economy, increased supplies should result in lower prices.
In the Obama economy, increased supplies result in higher prices.
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indyjim
Champion Author Indianapolis

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Message Posted: May 17, 2012 8:20:13 AM

This indicates to me that the refineries are selling off their stash to improve profit margins.
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mikerroy
Champion Author Albuquerque

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Message Posted: May 17, 2012 8:20:01 AM

It's all "Smoke and Mirrors", they move inventories around, shut down 2 or more refineries at the same time and other tricks to give the perception of a shortage and, keep the price of gas high.
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AC-302
Champion Author Los Angeles

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Message Posted: May 17, 2012 8:19:52 AM

Prices are rising, not falling here in LaLa land.
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dopster
Champion Author Toledo

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Message Posted: May 17, 2012 8:19:23 AM

Yup!
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CptnCanada
Champion Author Saskatoon

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Message Posted: May 17, 2012 8:19:12 AM

Supplies are up demand is down... so the oil companies gotta raise prices to keep profit up ..and pay for storage..
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danny999
Champion Author Florida

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Message Posted: May 17, 2012 8:19:08 AM

very slow compared to rest of Bradenton,Fl.Greedy people on Manatee Ave.
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bigsranch
Champion Author Houston

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Message Posted: May 17, 2012 8:18:13 AM

Why are crude inventories high and gasoline inventories low, you ask?

Lack of refining capacity and the EPA screwing with what capacity we DO have by requiring a zillion different winter and summer "blends".
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BCM1
Champion Author Pennsylvania

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Message Posted: May 17, 2012 8:17:43 AM

Just another way to announce price hikes.
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Hugo40
Champion Author Kentucky

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Message Posted: May 17, 2012 8:16:26 AM

Up and down here with no consistent pricing.
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techque
Champion Author St. Louis

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Message Posted: May 17, 2012 8:16:00 AM

$6.19/gallon at Chevron is LA !!

Refiners are trying to destroy the west coast!!
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truckpdlr
Champion Author Tucson

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Message Posted: May 17, 2012 8:15:37 AM

At least prices are coming down
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scu227
Champion Author New Haven

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Message Posted: May 17, 2012 8:14:54 AM

Supplies are up and demand is down! That should equate to lower prices.
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flghtmedic
All-Star Author Pensacola

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Message Posted: May 17, 2012 8:14:48 AM

Ok
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CHEAPERBETTER
Veteran Author Lansing

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Message Posted: May 17, 2012 8:14:48 AM

We really need more refineries.
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daquanabe
Champion Author Houston

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Message Posted: May 17, 2012 8:13:40 AM

Just trying to keep the prices at the pump high.
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Zonk
Champion Author Michigan

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Message Posted: May 17, 2012 8:12:47 AM

Prices don't always follow inventories.
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ModelWarships
Champion Author Missouri

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Message Posted: May 17, 2012 8:11:50 AM

I just read this yesterday.
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thirty8paces
Champion Author Baltimore

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Message Posted: May 17, 2012 8:09:10 AM

Blah, blah, blah. If they're not refining it, gas prices will be higher than necessary.
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Wanda127
Champion Author Florida

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Message Posted: May 17, 2012 8:09:08 AM

OK
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freedomsailor
Champion Author Naples

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Message Posted: May 17, 2012 8:08:55 AM

Up, down, up, down. No news there....
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twiper1
Champion Author San Diego

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Message Posted: May 17, 2012 8:06:31 AM

Alright
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kyrunner
Champion Author Lexington

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Message Posted: May 17, 2012 8:05:59 AM

I believe this agency should be the first to be on the chopping block as we reduce federal spending.
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Hi1
Champion Author Ontario

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Message Posted: May 17, 2012 8:05:47 AM

Interesting.
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