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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...

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Submitted Feb 23, 2012 By: PD

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roadrunnin Champion Author Richmond Posts:1,760 Points:567,105 Joined:May 2008	Message Posted: Feb 25, 2012 10:28:14 AM Ignore roadrunnin Report Abuse 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:33,090 Points:2,348,435 Joined:Aug 2006	Message Posted: Feb 24, 2012 5:23:23 PM Ignore tomok Report Abuse 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:4,349 Points:509,100 Joined:Oct 2011	Message Posted: Feb 24, 2012 3:33:17 PM Ignore Edpap Report Abuse Should we start planning a march on DC, or on the Democratic convention?
SUPPER Champion Author San Bernardino Posts:2,485 Points:1,291,485 Joined:Dec 2004	Message Posted: Feb 24, 2012 3:09:52 PM Ignore SUPPER Report Abuse WOW
BearAndTige Veteran Author Florida Posts:329 Points:457,675 Joined:May 2004	Message Posted: Feb 24, 2012 10:52:32 AM Ignore BearAndTige Report Abuse This is proof that the spike in prices is unadulterated raping of consumers by the oil companies.
packards42 Champion Author Washington Posts:6,452 Points:1,130,340 Joined:Feb 2005	Message Posted: Feb 24, 2012 10:32:54 AM Ignore packards42 Report Abuse we wouldn't want the inventory to rise and lower prices, so we sell the excess oversea.
remay Champion Author Houston Posts:6,980 Points:2,120,455 Joined:May 2006	Message Posted: Feb 24, 2012 8:56:34 AM Ignore remay Report Abuse 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 Posts:2,474 Points:582,825 Joined:Aug 2011	Message Posted: Feb 24, 2012 7:32:40 AM Ignore pbug101 Report Abuse ok
carnifolks Veteran Author New Jersey Posts:354 Points:357,560 Joined:Sep 2006	Message Posted: Feb 24, 2012 1:19:29 AM Ignore carnifolks Report Abuse That should bring down prices
N5EXY Champion Author Austin Posts:5,507 Points:1,513,005 Joined:Jul 2004	Message Posted: Feb 24, 2012 1:06:57 AM Ignore N5EXY Report Abuse liars figures
nomad228 Champion Author Columbus Posts:3,117 Points:575,140 Joined:Feb 2011	Message Posted: Feb 24, 2012 12:55:52 AM Ignore nomad228 Report Abuse 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 Posts:8,997 Points:1,783,375 Joined:Apr 2008	Message Posted: Feb 24, 2012 12:44:04 AM Ignore must87searcher Report Abuse 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 Posts:1,285 Points:357,285 Joined:Jun 2008	Message Posted: Feb 24, 2012 12:30:50 AM Ignore Sisu58 Report Abuse Supply and demand,free enterprise my foot. It's the greedy speculators again.
us4usa Champion Author Missouri Posts:6,003 Points:1,115,215 Joined:May 2008	Message Posted: Feb 24, 2012 12:30:37 AM Ignore us4usa Report Abuse Drop the gas tax and add it on to the export tax???
Sisu58 Champion Author Michigan Posts:1,285 Points:357,285 Joined:Jun 2008	Message Posted: Feb 24, 2012 12:29:36 AM Ignore Sisu58 Report Abuse Supply and demand,free enterprise my foot. It's the speculators again.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Feb 24, 2012 12:24:25 AM Ignore tedjm1 Report Abuse 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 Posts:3,389 Points:2,350,800 Joined:May 2004	Message Posted: Feb 24, 2012 12:24:22 AM Ignore RBob Report Abuse 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 Posts:7,277 Points:1,744,630 Joined:Apr 2006	Message Posted: Feb 24, 2012 12:20:58 AM Ignore 52MPG Report Abuse Speculation is at its best.
grandamgt1 Champion Author Illinois Posts:2,361 Points:1,243,250 Joined:Apr 2008	Message Posted: Feb 24, 2012 12:17:11 AM Ignore grandamgt1 Report Abuse 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 Posts:5,087 Points:1,056,940 Joined:Sep 2009	Message Posted: Feb 24, 2012 12:13:22 AM Ignore satrn38mpg Report Abuse and yet the pump price still rises >> up another $.07 today >>
SparkieMi Champion Author Kalamazoo Posts:3,277 Points:591,330 Joined:Sep 2011	Message Posted: Feb 24, 2012 12:12:28 AM Ignore SparkieMi Report Abuse 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 Posts:2,463 Points:695,800 Joined:Apr 2010	Message Posted: Feb 24, 2012 12:11:08 AM Ignore golftellowcat Report Abuse SPECULATION
rawdog1313 Champion Author Lexington Posts:3,319 Points:1,645,830 Joined:May 2008	Message Posted: Feb 24, 2012 12:10:51 AM Ignore rawdog1313 Report Abuse Agree with "gocatgo"....
LegoVasavouchi Champion Author Oklahoma Posts:1,659 Points:114,390 Joined:Apr 2011	Message Posted: Feb 24, 2012 12:10:40 AM Ignore LegoVasavouchi Report Abuse Fascinating.
gocatgo Champion Author South Carolina Posts:15,674 Points:2,532,505 Joined:Apr 2006	Message Posted: Feb 24, 2012 12:09:20 AM Ignore gocatgo Report Abuse 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 Posts:3,374 Points:1,297,730 Joined:Jan 2008	Message Posted: Feb 24, 2012 12:09:01 AM Ignore NatureBoyKY Report Abuse Inventory higher; Price Higher; Supply and demand???????
panda317 Champion Author Massachusetts Posts:2,264 Points:689,350 Joined:Aug 2002	Message Posted: Feb 24, 2012 12:08:31 AM Ignore panda317 Report Abuse ok
Dsin44 Champion Author Abbotsford Posts:1,272 Points:273,185 Joined:Apr 2011	Message Posted: Feb 24, 2012 12:08:17 AM Ignore Dsin44 Report Abuse really
judgemobile Champion Author Ohio Posts:7,585 Points:2,448,060 Joined:Nov 2005	Message Posted: Feb 24, 2012 12:08:11 AM Ignore judgemobile Report Abuse 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 Posts:1,384 Points:382,905 Joined:Oct 2008	Message Posted: Feb 24, 2012 12:08:03 AM Ignore bdlewis Report Abuse OK
regout Champion Author Quebec Posts:2,970 Points:835,630 Joined:May 2010	Message Posted: Feb 24, 2012 12:07:41 AM Ignore regout Report Abuse Why the price stay high?
LoneGuy Champion Author Lansing Posts:8,495 Points:2,320,920 Joined:Aug 2005	Message Posted: Feb 24, 2012 12:06:39 AM Ignore LoneGuy Report Abuse 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 Posts:2,553 Points:690,005 Joined:Jan 2011	Message Posted: Feb 24, 2012 12:06:26 AM Ignore jem069 Report Abuse ok
Pumpz Sophomore Author Boston Posts:197 Points:887,125 Joined:Apr 2004	Message Posted: Feb 24, 2012 12:05:26 AM Ignore Pumpz Report Abuse 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:1,288 Points:309,615 Joined:Aug 2008	Message Posted: Feb 24, 2012 12:04:06 AM Ignore amgine27 Report Abuse so lower the prices
Mowerman08 Champion Author Milwaukee Posts:4,770 Points:1,220,695 Joined:Aug 2008	Message Posted: Feb 24, 2012 12:02:54 AM Ignore Mowerman08 Report Abuse "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:5,394 Points:1,472,675 Joined:Feb 2009	Message Posted: Feb 24, 2012 12:01:52 AM Ignore TheSicilian Report Abuse not as it should be
Pumpz Sophomore Author Boston Posts:197 Points:887,125 Joined:Apr 2004	Message Posted: Feb 23, 2012 11:59:03 PM Ignore Pumpz Report Abuse Inventories up, prices up. Hmm
SparkieMi Champion Author Kalamazoo Posts:3,277 Points:591,330 Joined:Sep 2011	Message Posted: Feb 23, 2012 11:57:30 PM Ignore SparkieMi Report Abuse I agree with suzmar....
JesseJack52 All-Star Author Virginia Beach Posts:628 Points:127,835 Joined:Sep 2011	Message Posted: Feb 23, 2012 11:56:35 PM Ignore JesseJack52 Report Abuse right
bif65 Champion Author Virginia Posts:1,023 Points:196,005 Joined:Jan 2011	Message Posted: Feb 23, 2012 11:53:38 PM Ignore bif65 Report Abuse ok
suzmar Champion Author Texas Posts:2,214 Points:874,980 Joined:Jun 2006	Message Posted: Feb 23, 2012 11:53:16 PM Ignore suzmar Report Abuse 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 Posts:7,032 Points:2,561,810 Joined:Nov 2005	Message Posted: Feb 23, 2012 11:52:41 PM Ignore speedys Report Abuse We should not be exporting.
roadrunnin Champion Author Richmond Posts:1,760 Points:567,105 Joined:May 2008	Message Posted: Feb 23, 2012 11:49:20 PM Ignore roadrunnin Report Abuse and yet some peo0ple think we just need to drill more . . .
gass12 Champion Author Omaha Posts:8,409 Points:2,307,615 Joined:Oct 2005	Message Posted: Feb 23, 2012 11:43:33 PM Ignore gass12 Report Abuse Useing less and paying more.
SparkieMi Champion Author Kalamazoo Posts:3,277 Points:591,330 Joined:Sep 2011	Message Posted: Feb 23, 2012 11:42:32 PM Ignore SparkieMi Report Abuse I agree with FastAndy..
rxman1 Champion Author Toledo Posts:9,564 Points:1,864,820 Joined:Nov 2007	Message Posted: Feb 23, 2012 11:42:17 PM Ignore rxman1 Report Abuse It is all about promoting alternative energy now. It may come back to bite them in the short run.
gd83goldwinger Champion Author South Bend Posts:1,428 Points:504,980 Joined:May 2011	Message Posted: Feb 23, 2012 11:41:20 PM Ignore gd83goldwinger Report Abuse They to regulate gas price over lets just speculate what its going to be.
IMIrish Rookie Author Detroit Posts:87 Points:1,400,740 Joined:Jul 2003	Message Posted: Feb 23, 2012 11:39:30 PM Ignore IMIrish Report Abuse Amen, mstearno, amen!
DEG Champion Author Las Vegas Posts:17,640 Points:3,498,605 Joined:Jul 2003	Message Posted: Feb 23, 2012 11:38:37 PM Ignore DEG Report Abuse 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.