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Author Topic: EIA: U.S. gasoline production & crude oil inventories both increase Back to Topics
PD
Moderator
Message Posted: Mar 5, 2014 11:07:39 AM

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 1.4 million barrels to a total of 363.8 million barrels. At 363.8 million barrels, inventories are 17.5 million barrels below last year (-4.6%) and in the upper half of the average range for this time of year.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.6 million barrels to 229 million barrels. At 229 million barrels, inventories are up 1.1 million barrels, or 0.5% higher than one year ago. Here's how individual regions and their gasoline inventory fared last week: East Coast ...

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REPLIES (newest first) Post a Reply
JOHNJOEYJOE
Champion Author Texas

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Message Posted: Mar 12, 2014 7:00:25 AM

For what purpose? Export!
dfp609
Champion Author Cincinnati

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Message Posted: Mar 11, 2014 6:45:36 AM

Then why do gasoline prices keep rising?
hoppingrabbit
Sophomore Author Oregon

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Points:63,135
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Message Posted: Mar 8, 2014 6:49:48 AM

Fill me up/
remay
Champion Author Houston

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Message Posted: Mar 6, 2014 10:49:51 PM

Ok, and so have pump prices.
Pete12
Champion Author Albany

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Message Posted: Mar 6, 2014 9:23:38 PM

It's all about the speculators!
CheapDiesel
Champion Author Indianapolis

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Message Posted: Mar 6, 2014 9:20:03 PM

Sure, now that we are within 1 price gouge of $4 they bump up production.
Jeff4U
Champion Author Atlanta

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Message Posted: Mar 6, 2014 7:58:05 PM

Hooray!
eyegotgas2
Champion Author British Columbia

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Message Posted: Mar 6, 2014 3:10:31 AM

If inventories are increasing than gas prices should be declining.
ktbaeohana
Champion Author Las Vegas

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Message Posted: Mar 6, 2014 2:59:08 AM

crude up and gasoline down ?
Shadowwarrior
Champion Author Pennsylvania

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Message Posted: Mar 5, 2014 9:26:04 PM

why gas prices are jumping,,, market manipulation!
LanguageMan1
Champion Author Tampa

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Joined:Apr 2008
Message Posted: Mar 5, 2014 7:40:58 PM

Isn't that just all peachy and rosy.

Not much different from many other weeks. We're using a little less, importing a bit more on the refined stuff and exporting what we need already but importing that back and more. We have a little bit of a surplus again, though not much.

Doesn't matter, the prices are still going to go up overall down the road and probably even within days if it hasn't already in your area.
Mystikal1
Veteran Author Akron

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Message Posted: Mar 5, 2014 7:02:52 PM

For my region...increased gasoline inventory + increase refinery output = spiked pump prices. I don't understand the new math being shoved down our throats.
QualTekGuy
Champion Author Illinois

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Message Posted: Mar 5, 2014 5:21:38 PM

Will gas prices start gong down?
humblepie
Champion Author Toledo

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Message Posted: Mar 5, 2014 5:09:06 PM

and pump prices rise again
85XJ
Champion Author Toledo

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Message Posted: Mar 5, 2014 4:58:00 PM

Inventory in the Midwest is up, refinery utilization is up, so naturally prices are up as well.
BarbieLoveJax
Champion Author Jacksonville

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Message Posted: Mar 5, 2014 4:41:20 PM

More manipulated numbers.
tomok
Champion Author Portland

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Message Posted: Mar 5, 2014 3:56:35 PM

U.S. gasoline production & crude oil inventories both increase. Crude oil inventories increased, Gasoline inventories decreased, Refinery production decreased 0.6%, - **so higher prices at the pump? *Big Oil's profits continue to rise at our expense. Big Oil can charge whatever they want at the pump and we will never have any other option but to pay, pay, pay!
Crude oil inventories increased, Gasoline inventories decreased, Distillate inventories increased, Refinery utilization decreased 0.6% from last week, Total US oil stocks down 5.1% over last year and there are still high fuel prices at the pump! The fuel prices at the pump should be much lower for 'coming out of the closet' Sneekers666 'spending gone wild' very bad 'in the crapper' 'dog and pony show' socialist economy to recover just a little more than what it's ever going to do otherwise! Rockets and Feathers at work! Need more Rocks, Bigger Rocks! Boulders!
Surprise! Surprise! E-I-A, E-I-A, E--I--E--I----O-O-O-O-O!
Big Oil and Big Gas sells fuel and natural gas for higher prices. 'Coming out of the closet' Sneekers666 lousy, spending gone wild, smoke and mirrors, lack of jobs, dog and pony show and 'in the crapper' economy, the jobs are Not here. Sneekers666 economy is not improving but continues to hurt the population and the job numbers continue to be down!
Can't wait for Sneekers666 to fade away like it was a very bad eight year nightmare! The Sooner, The Better! This Economy and Nation have suffered more than enough!!!!!
The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2.50/gallon -> *$3, or *$3.50/gallon is Not the new low!
**More Refineries are Not the Answer, Stop Exporting Fuel Is THE Answer!
*If 'they' can export that much fuel, there are enough refineries already, there are NO need for MORE Refineries! OR for any Refineries located at the 'source' of the domestic crude oil!
Take care of the domestic fuel market first and above all else before exporting and selling fuel or natural gas to other countries!
Local fuel prices have stayed the same at some gas stations OR are up 10 cents/gallon at some stations but there is still a long way to go ---->>>>> DOWN IS BETTER!
This sounds like prejacu---, ahhhhhh, manipulation to me!
***Produced by nonessential federal employees for your enjoyment using our taxpayer money.
Drive vehicles with high mpg, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
fedupp
Champion Author Cleveland

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Message Posted: Mar 5, 2014 3:18:41 PM

Exon mobile is an international corporation that even has an interest in Iraq's gigantic cheap oil fields,along side of China and Russia.Their profits include a world wide portfolio---- I am talking specifically north America, big oil is not making much of a profit in north America yet because the incredibly high priced lifting costs and accessibility of the leftover resources they are developing and extracting-frack,shale and steam tar have always been cost prohibitive---this is a manufactured situation with all of us footing the incredibly high bill from now on.
MassGas007
Champion Author Massachusetts

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Message Posted: Mar 5, 2014 3:17:24 PM

Wall Street did you read this inventories are both up!!!
Bigoilscamsus20
Veteran Author Detroit

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Message Posted: Mar 5, 2014 3:06:42 PM

fedupp-- what? Big oil is not making much money? What about ExxonMobil making a profit of 10 billion dollars per quarter over the last 4 years , that is the reported profit from 120 billion in gross income each quarter! This all at the expense of the American consumer!
Bigoilscamsus20
Veteran Author Detroit

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Message Posted: Mar 5, 2014 2:52:45 PM

We in the Midwest have the highest utilization rate and still our prices go up! Our prices have gone up 80 cents in a month while we have plenty of crude and gasoline! Big oil just wants to rip us off at a record rate ! Congress needs to put price and profit controls on all petroleum products in America! Congress can control inter state commerce and until they start doing that our economy and job growth will remain in Recession!
fedupp
Champion Author Cleveland

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Message Posted: Mar 5, 2014 2:51:04 PM

1000 refineries are useless with oil at $100.00+ and north American lifting costs ranging from $60.00 to $90.00 per barrel----we had a total of none of these problems from the end of the OPEC oil embargo in 1984 all the way to march 20 2003---prior to the end of the OPEC oil embargo in 1984 all the way back to the start of the oil embargo in 1973 we had exactly the same problems--and pre Obama gas prices were higher than now---you are confusing the effect of a huge market crash on the world price of crude oil with some imaginary change in the oil business----the low prices in the fall of 2008 spring of 2009 were because the commodity price of crude oil was cut in half for a short time-it had nothing whatsoever to do with Obama.
caddilac
Champion Author Ontario

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Message Posted: Mar 5, 2014 2:49:44 PM


"Gasoline inventories decreased by 1.6 million barrels to 229 million barrels."

Gasoline inventories have increased and yet gasoline prices went up yesterday.

What is wrong with that picture?
jep39
Champion Author California

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Message Posted: Mar 5, 2014 2:45:28 PM

Which of our presidents created the Energy Information Administration to release a weekly report so his cousin could have a job?
Bigoilscamsus20
Veteran Author Detroit

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Message Posted: Mar 5, 2014 2:42:27 PM

The price fix is on again in Michigan as Marathon/Speedway has fixed the new price at $3.79.9 cents per gallon! At the same time theEnergy Information Administration has said that both gasoline and crude supplies have gone up! The entire petroleum industry is one big scam and is manipulated to to control our economy and make multi Billion dollar profit for Big Oil each quarter! All stations that have raised their price to $3.79.9 per gallon should be found guilty of price fixing and market manipulation! Attorney generals should prosecute them and force a roll back to prices at the pre Obama years which was $1.89.9 cents per gallon! Anyone who can show records for gas purchased above that price should be given a rebate check for the money robbed from them for the last five years!
Red7002011
Champion Author Mississippi

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Message Posted: Mar 5, 2014 2:40:03 PM

Gas prices up at the pump!
R209
Champion Author California

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Message Posted: Mar 5, 2014 2:38:53 PM

We pay $100 million dollars annually to maintain the EIA...is it worth that kind of money?
GAS4CEPA
Champion Author Allentown

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Message Posted: Mar 5, 2014 2:37:49 PM

The big oil Corporations control Refinery utilization. Because of that, no other factor is as important.

Because of big oil corporations control of refineries, they can shut off the refining of crude oil even if we are drowning in crude oil. We can not operate our vehicles with unrefined crude oil. These oil Corporations can create artificial shortages of refined products (gasoline, diesel fuel, home heating oil, etc.) at their whim, just by not refining any, or sufficient quantities of one or more of these refined fuels.

Because a huge number of our politicians in Congress (Republicans and Democrats) are controlled by "Big Oil", with their campaign donations to them, our government will not put any pressure on these oil Corporations to correct this situation. So, we will continue to pay constant high, and higher prices for our needed fuel.

Chazzer
Champion Author Nevada

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Message Posted: Mar 5, 2014 2:34:45 PM

Good news ... right? Will pump prices start comming down? Not for a while I bet!
gas_too_high
Champion Author Columbus

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Message Posted: Mar 5, 2014 2:32:48 PM

Inventories are increasing, so of course prices at the gas pump are rising.

GTH
peanutsMN
Champion Author Twin Cities

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Message Posted: Mar 5, 2014 2:32:00 PM

Jusy got a notice that prices are rising again here today.
firechief
Champion Author New York

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Message Posted: Mar 5, 2014 2:31:38 PM

good!
1fulltank
Champion Author Buffalo

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Message Posted: Mar 5, 2014 2:28:49 PM

Will this help or hurt?
aalix
Champion Author Orange County

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Message Posted: Mar 5, 2014 2:27:20 PM

Mixed inventory reports should translate into declining or leveling of gasoline prices.
YodaON
Champion Author Ottawa

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Message Posted: Mar 5, 2014 2:24:22 PM

forever changing
TopSpeedAsian
Champion Author Detroit

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Message Posted: Mar 5, 2014 2:23:14 PM

Informative news.
bbthegun
Champion Author San Diego

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Message Posted: Mar 5, 2014 2:19:55 PM

Ok, so can prices fall back again please??
yakstar
Champion Author Montreal

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Message Posted: Mar 5, 2014 2:19:47 PM

the data hardly ever changes!
Tralp
Champion Author North Carolina

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Message Posted: Mar 5, 2014 2:19:26 PM

ok
dcone2
Champion Author Los Angeles

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Message Posted: Mar 5, 2014 2:18:50 PM

ok
Bud122CA
Champion Author California

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Message Posted: Mar 5, 2014 2:17:41 PM

And just think. Our tax dollars go to pay these idiots for this info.
BAJALRRP
Champion Author Tacoma

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Message Posted: Mar 5, 2014 2:15:49 PM

Means....?
abacus44
Champion Author Toms River

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Message Posted: Mar 5, 2014 2:14:43 PM

OK
LostInNY
Champion Author New York

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Message Posted: Mar 5, 2014 2:13:39 PM

and that is why gas prices are jumping here???? lol
driveonby1
Champion Author Toledo

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Message Posted: Mar 5, 2014 2:10:57 PM

Hmmn. What happened to market forces?
car54BC
Champion Author British Columbia

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Message Posted: Mar 5, 2014 2:06:07 PM

So much for supply and demand
73amx
Champion Author Allentown

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Message Posted: Mar 5, 2014 2:04:37 PM

as well as prices
MarAzul
Champion Author London

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Message Posted: Mar 5, 2014 2:04:06 PM

Increasing production and inventory,......Gas at the pumps going up?? No commen sens.
ezone
Champion Author Florida

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Message Posted: Mar 5, 2014 2:03:24 PM

So does this mean "up" or "down"?
TheDix
Champion Author Ontario

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Message Posted: Mar 5, 2014 2:03:23 PM


Up and down ,all around.
pecos
Champion Author Columbus

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Message Posted: Mar 5, 2014 1:59:32 PM

And so is the cost of the gas we are buying.
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