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EIA: Crude inventories increase; gasoline inventories decrease as expected

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 344.9 million barrels. At 344.9 million barrels, inventories are 1.5 million barrels below last year (-0.7%) and are in the upper limit of the average range.
GASOLINE INVENTORIES:


Gasoline inventories decreased by 1.6 million barrels to 229.9 million barrels. At 229.9 million barrels, inventories are 4.8 million barrels, or 2.0% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-1.5mb...


Read the Full Article

Submitted Feb 23, 2012 By: PD
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Author Topic: EIA: Crude inventories increase; gasoline inventories decrease as expected Back to Topics
REPLIES (newest first) Post a Reply
roadrunnin
Champion Author Richmond

Posts:2,138
Points:863,480
Joined:May 2008
Message Posted: Feb 25, 2012 10:28:14 AM

us4usa . . . I like that idea, if our resources are being exported, make it hurt them more, and let us get a break.
tomok
Champion Author Portland

Posts:46,301
Points:3,127,760
Joined:Aug 2006
Message Posted: Feb 24, 2012 5:23:23 PM

Crude inventories increased, Gasoline inventories decreased, Distillate inventories decreased. and Refinery utilization rose. Total oil stocks in the US are up.
Big oil 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 for their benefit.
Whatever the size or shape of the vehicle is, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using ‘other’ forms of transportation to help lower your cost.
The price of fuel at the pump is too high!
12/22/2012!
Edpap
Champion Author Pennsylvania

Posts:7,982
Points:1,185,650
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Message Posted: Feb 24, 2012 3:33:17 PM

Should we start planning a march on DC, or on the Democratic convention?
SUPPER
Champion Author San Bernardino

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Message Posted: Feb 24, 2012 3:09:52 PM

WOW
BearAndTige
Veteran Author Florida

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Points:729,180
Joined:May 2004
Message Posted: Feb 24, 2012 10:52:32 AM

This is proof that the spike in prices is unadulterated raping of consumers by the oil companies.
packards42
Champion Author Washington

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Message Posted: Feb 24, 2012 10:32:54 AM

we wouldn't want the inventory to rise and lower prices, so we sell the excess oversea.
remay
Champion Author Houston

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Joined:May 2006
Message Posted: Feb 24, 2012 8:56:34 AM

Another posted article claimed that the hike in gas price is due to the increased exports. It would be NICE to see charts showing the price of gas and exports over time to see if there IS a relationship between the two.
pbug101
Champion Author Georgia

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Message Posted: Feb 24, 2012 7:32:40 AM

ok
carnifolks
Veteran Author New Jersey

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Message Posted: Feb 24, 2012 1:19:29 AM

That should bring down prices
N5EXY
Champion Author Austin

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Message Posted: Feb 24, 2012 1:06:57 AM

liars figures
nomad228
Champion Author Columbus

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Message Posted: Feb 24, 2012 12:55:52 AM

and they wonder why .....what's that big word they use to use in the news to make it sound like we their supporting our country ....national strategic petroleum reserves,and why we don't have enough on reserve. this is like all the weathermen all of sudden becoming the storm channel.we just don't have regular weather anymore it's all storms/threats of thunder and lightning.we just don't have a gas supply ,now it's the strategic national oil reserves and their low. gas prices don't just rise a little anymore they skyrocket and yo yo ,but never plummet.:)
must87searcher
Champion Author Maryland

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Message Posted: Feb 24, 2012 12:44:04 AM

This story is based on data which is collected. That does not mean all the data is here. For that, there is a good chance that mistakes are in some of this information.

Having more oil exported is not too much a surprise. Sales are low, that does account for the help high price of gas. By SELLING for a price, not donating, it to other nations, international sales can stay in the US. In China, most average could not even afford the things average people in the US have (houses, autos, technology). If the all the shipping for China stopped and were limited to their nation, their sales market would fall!
Sisu58
Champion Author Michigan

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Message Posted: Feb 24, 2012 12:30:50 AM

Supply and demand,free enterprise my foot. It's the greedy speculators again.
us4usa
Champion Author Missouri

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Message Posted: Feb 24, 2012 12:30:37 AM

Drop the gas tax and add it on to the export tax???
Sisu58
Champion Author Michigan

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Message Posted: Feb 24, 2012 12:29:36 AM

Supply and demand,free enterprise my foot. It's the speculators again.
tedjm1
Champion Author New York

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Message Posted: Feb 24, 2012 12:24:25 AM

Yes speculation may be a large part of the problem, buy there must b e other 'money issues' to go along with that.
RBob
Champion Author Portland

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Message Posted: Feb 24, 2012 12:24:22 AM


Even with the BP refinery fire north of Seattle, refineries in the NW are running well below 75% and they cannot store anymore of the surplus crude. Still prices are going up 5-10 cents a day. If only the speculators would pay their share of the taxes instead of getting the tax breaks for the super rich.
52MPG
Champion Author Dayton

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Message Posted: Feb 24, 2012 12:20:58 AM

Speculation is at its best.
grandamgt1
Champion Author Illinois

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Message Posted: Feb 24, 2012 12:17:11 AM

We need to make sales here more attractive. The problem is price has been the answer, it doesn't help anyone on either side of the pump. We need to tax the hell outta oil exports.
satrn38mpg
Champion Author Raleigh

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Message Posted: Feb 24, 2012 12:13:22 AM

and yet the pump price still rises >> up another $.07 today >>
SparkieMi
Champion Author Kalamazoo

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Joined:Sep 2011
Message Posted: Feb 24, 2012 12:12:28 AM

The pump prices should be at a max of $1.50 per gallon before exporting
oil since we are subsidizing the oil companies... GREED, GREED....
golftellowcat
Champion Author Ottawa

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Message Posted: Feb 24, 2012 12:11:08 AM

SPECULATION
rawdog1313
Champion Author Lexington

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Message Posted: Feb 24, 2012 12:10:51 AM

Agree with "gocatgo"....
LegoVasavouchi
Champion Author Oklahoma

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Message Posted: Feb 24, 2012 12:10:40 AM

Fascinating.
gocatgo
Champion Author South Carolina

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Message Posted: Feb 24, 2012 12:09:20 AM

Big Oil is loving it and cons cry about taking away tax breaks from those making record profits. There is sympathy for the devil too.
NatureBoyKY
Champion Author Kentucky

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Message Posted: Feb 24, 2012 12:09:01 AM

Inventory higher; Price Higher; Supply and demand???????
panda317
Champion Author Tampa

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Message Posted: Feb 24, 2012 12:08:31 AM

ok
Dsin44
Champion Author Abbotsford

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Message Posted: Feb 24, 2012 12:08:17 AM

really
judgemobile
Champion Author Ohio

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Message Posted: Feb 24, 2012 12:08:11 AM

why are we EXPORTING when lower supply would drive prices UP just as the economy is beginning to tank again ? Caesar, beware the Ides of March.
bdlewis
Champion Author Colorado

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Message Posted: Feb 24, 2012 12:08:03 AM

OK
regout
Champion Author Quebec

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Message Posted: Feb 24, 2012 12:07:41 AM

Why the price stay high?
LoneGuy
Champion Author Lansing

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Message Posted: Feb 24, 2012 12:06:39 AM

If we get rid of the President who will only waste funds on renewables, maybe we can hold the feet of the next leader to the fire and get an energy plan for this country.
jem069
Champion Author Detroit

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Message Posted: Feb 24, 2012 12:06:26 AM

ok
Pumpz
Sophomore Author Boston

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Points:892,625
Joined:Apr 2004
Message Posted: Feb 24, 2012 12:05:26 AM

If you are selling something, don't you try to get the highest price you can?

The same people who decry 'gouging' would be more than happy to get a much higher price for their house than the neighbors did.
amgine27
Champion Author New York

Posts:2,191
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Message Posted: Feb 24, 2012 12:04:06 AM

so lower the prices
Mowerman08
Champion Author Milwaukee

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Joined:Aug 2008
Message Posted: Feb 24, 2012 12:02:54 AM

"In total, U.S. refineries exported 3.1 million barrels per DAY of oil and products! (These are four week rolling averages)..."

Big oil, the bottom line is what counts.
TheSicilian
Champion Author Jacksonville

Posts:8,634
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Message Posted: Feb 24, 2012 12:01:52 AM

not as it should be
Pumpz
Sophomore Author Boston

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Points:892,625
Joined:Apr 2004
Message Posted: Feb 23, 2012 11:59:03 PM

Inventories up, prices up. Hmm
SparkieMi
Champion Author Kalamazoo

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Message Posted: Feb 23, 2012 11:57:30 PM

I agree with suzmar....
JesseJack52
All-Star Author Virginia Beach

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Message Posted: Feb 23, 2012 11:56:35 PM

right
bif65
Champion Author Virginia

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Joined:Jan 2011
Message Posted: Feb 23, 2012 11:53:38 PM

ok
suzmar
Champion Author Texas

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Joined:Jun 2006
Message Posted: Feb 23, 2012 11:53:16 PM

Prices are rising despite increased inventories because speculators are driving up prices based on fear that Iran will continue to destabilize the middle east.
speedys
Champion Author Utah

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Message Posted: Feb 23, 2012 11:52:41 PM

We should not be exporting.
roadrunnin
Champion Author Richmond

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Joined:May 2008
Message Posted: Feb 23, 2012 11:49:20 PM

and yet some peo0ple think we just need to drill more . . .
gass12
Champion Author Omaha

Posts:11,501
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Message Posted: Feb 23, 2012 11:43:33 PM

Useing less and paying more.
SparkieMi
Champion Author Kalamazoo

Posts:6,335
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Joined:Sep 2011
Message Posted: Feb 23, 2012 11:42:32 PM

I agree with FastAndy..
rxman1
Champion Author Toledo

Posts:13,031
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Message Posted: Feb 23, 2012 11:42:17 PM

It is all about promoting alternative energy now. It may come back to bite them in the short run.
gd83goldwinger
Champion Author South Bend

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Message Posted: Feb 23, 2012 11:41:20 PM

They to regulate gas price over lets just speculate what its going to be.
IMIrish
Sophomore Author Detroit

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Joined:Jul 2003
Message Posted: Feb 23, 2012 11:39:30 PM

Amen, mstearno, amen!
DEG
Champion Author Las Vegas

Posts:20,756
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Message Posted: Feb 23, 2012 11:38:37 PM

Big Government is a big part of the problem along with Big Oil and speculators. I have come to believe that Big Government is the largest part of the problem.
Blue48
Champion Author Illinois

Posts:10,581
Points:2,419,745
Joined:Feb 2007
Message Posted: Feb 23, 2012 11:38:28 PM

$3.79/GAL HERE IN EAST PEORIA IL.....GIVE ME A BREAK!!
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