Not Logged In Log In   Sign Up   Points Leaders
Follow Us    1:59 AM

Message Forum - Read Message

Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: Crude supplies surge as refineries inventories continue lower production Back to Topics
PD

Moderator
Message Posted: Mar 19, 2014 10:35:36 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 5.9 million barrels to a total of 375.9 million barrels. At 375.9 million barrels, inventories are 6.8 million barrels below last year (-1.8) and in the upper half of the average range for this time of year.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.5 million barrels to 222.3 million barrels. At 222.3 million barrels, inventories are down 0.5 million barrels, or 0.2% lower than one year ago. Here's how individual regions and their gasoline inventory fared last week: East Coast...

Visit GasBuddy Blog for full article
REPLIES (newest first) Post a Reply
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,705
Points:2,182,590
Joined:Nov 2008
Message Posted: Mar 22, 2014 12:01:56 AM

Jc: ha ha ha. In your wildest dreams only. Pig Oil is creating an artificial bottleneck to be able to raise prices even more. Watch!
Profile Pic
Jcookster74
All-Star Author San Bernardino

Posts:990
Points:716,760
Joined:Oct 2012
Message Posted: Mar 21, 2014 11:56:53 AM

It seems prices should drop.
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,705
Points:2,182,590
Joined:Nov 2008
Message Posted: Mar 21, 2014 5:55:40 AM

lower production to create artificial bottleneck, which in turn, "warrants" raising prices. Yea, right, sure.. whatever... NOT!
Profile Pic
RogerB
Champion Author Indianapolis

Posts:20,757
Points:3,190,695
Joined:Dec 2005
Message Posted: Mar 21, 2014 2:46:23 AM

Very interesting . . .
             
             
                √


Profile Pic
smelser1123
Champion Author Nevada

Posts:3,601
Points:827,600
Joined:Jun 2012
Message Posted: Mar 20, 2014 2:34:57 PM

Old post
Profile Pic
investmentdr
Champion Author Cleveland

Posts:6,005
Points:1,994,045
Joined:Sep 2008
Message Posted: Mar 20, 2014 1:00:59 PM

keep on conserving
Profile Pic
randyragon
Veteran Author Gary

Posts:474
Points:13,360
Joined:Oct 2012
Message Posted: Mar 20, 2014 12:41:34 PM

I notice most of Chicago is above $4.00 a gallon for gas this morning. While two counties over into Indiana the gas there (that comes from the same refineries) has come down to $3.48 from $3.59 yesterday. Funny how things jump around like that for no reason.
Profile Pic
LuckyLou1
Champion Author Colorado

Posts:2,933
Points:752,135
Joined:Oct 2012
Message Posted: Mar 20, 2014 11:37:03 AM

Meaningless unless it had something to do with lowering the costs when I fill up with gas
Profile Pic
sydb7
Champion Author Atlanta

Posts:5,293
Points:2,407,845
Joined:Mar 2003
Message Posted: Mar 20, 2014 11:00:10 AM

There is only one important number: the pump price and whether it is going up or down!
Profile Pic
beachnut
Champion Author Michigan

Posts:17,123
Points:3,384,205
Joined:Mar 2004
Message Posted: Mar 20, 2014 10:41:54 AM

a bargain?? For whom???
Profile Pic
deant99
Champion Author Ontario

Posts:97,719
Points:318,955
Joined:Sep 2011
Message Posted: Mar 20, 2014 9:28:12 AM

This is money waiting to be made
Profile Pic
fedupp
Champion Author Cleveland

Posts:4,994
Points:32,125
Joined:May 2013
Message Posted: Mar 20, 2014 6:37:46 AM

WonderfulMI--my answer is:absolutely horrifyingly awful-and the worst part for me is I knew almost a decade ago what the end result of incresed north American oil production would be----I remember the first time I saw them say it on TV--and my first thought was..North America has no source of affordable oil,so how are they going to do that? Turns out the answer was-war,lies,sanctions,propaganda-and AM radio.
Profile Pic
fedupp
Champion Author Cleveland

Posts:4,994
Points:32,125
Joined:May 2013
Message Posted: Mar 20, 2014 6:31:40 AM

It costs up to $90.00 to steam one barrel of low quality tar oil out of the sand pit-so you can count on the world price of one barrel of crude oil being around or over $100.00 from now on--or they will stop steaming low quality tar oil out of the sand pit...and I doubt they will stop doing that,especially since half the country thinks Canada's tar sand oil is the answer for everything------the only way any of us are ever going to see cheap,or even affordable oil again is if we make deals/friends with true oil rich countries-like Iraq,Kuwait,Iran,Venezuela ect...and most people don't even want to hear that,even though most of what went down when Iraq's oil was shut down and split up was lies-and what went down with Venezuela was mostly lies also.(true oil rich countries have high quality oil that comes out of the ground for next to nothing-we have frack,shale and steam tar oil,so get used to paying 4-5 times more for all fuels from now on)
Profile Pic
WonderfulMI
Champion Author Michigan

Posts:14,278
Points:2,359,370
Joined:Jun 2008
Message Posted: Mar 20, 2014 6:28:35 AM

The Republican Party promised "Drill here, drill now, pay less". How is that working out for you?
Profile Pic
ShineRunner
Champion Author North Carolina

Posts:2,444
Points:846,955
Joined:Apr 2006
Message Posted: Mar 20, 2014 6:27:40 AM

We need more refineries to keep this type of thing from happening.
Profile Pic
pitamon
Champion Author Philadelphia

Posts:6,809
Points:2,363,255
Joined:Sep 2004
Message Posted: Mar 20, 2014 6:18:15 AM

We get screwed no matter what, there is always some excuse.
Profile Pic
Jeffro61
Champion Author Cleveland

Posts:4,353
Points:2,777,770
Joined:Oct 2005
Message Posted: Mar 20, 2014 6:14:18 AM

News for speculators.
Profile Pic
dar 1
Champion Author Michigan

Posts:8,300
Points:563,420
Joined:Jan 2005
Message Posted: Mar 20, 2014 6:11:29 AM

Dont worry our prices wont go down.....
Profile Pic
jimraehl
Champion Author Utah

Posts:9,509
Points:2,207,105
Joined:Sep 2008
Message Posted: Mar 20, 2014 6:06:21 AM

Standard report.
Profile Pic
jimraehl
Champion Author Utah

Posts:9,509
Points:2,207,105
Joined:Sep 2008
Message Posted: Mar 20, 2014 6:05:40 AM

Standard report.
Profile Pic
NJColt
Champion Author New Jersey

Posts:14,924
Points:3,202,975
Joined:Aug 2005
Message Posted: Mar 20, 2014 6:05:01 AM

EIA = WASTE
Profile Pic
AESJOBLOM4
Champion Author Florida

Posts:2,037
Points:819,065
Joined:Nov 2006
Message Posted: Mar 20, 2014 6:04:45 AM

GET IT RIGHT
Profile Pic
devildog66
Champion Author Pennsylvania

Posts:2,971
Points:859,090
Joined:May 2012
Message Posted: Mar 20, 2014 6:04:42 AM

I see a massive price increase coming!
Profile Pic
BigBearHug
Champion Author Amarillo

Posts:4,665
Points:1,050,935
Joined:Dec 2011
Message Posted: Mar 20, 2014 6:03:11 AM

crude surges ... so does gas prices
Profile Pic
tigerhater
Champion Author Toronto

Posts:1,898
Points:463,650
Joined:Aug 2013
Message Posted: Mar 20, 2014 6:02:49 AM

lower production just before driving season I wonder why?
Profile Pic
rahcat
Champion Author Grand Rapids

Posts:5,180
Points:1,235,900
Joined:Jan 2010
Message Posted: Mar 20, 2014 6:00:52 AM

Useless report.
Profile Pic
Ferdman17
Champion Author Albany

Posts:3,606
Points:939,520
Joined:Feb 2012
Message Posted: Mar 20, 2014 6:00:41 AM

Here we go again
Profile Pic
geneo56
Champion Author Arkansas

Posts:1,563
Points:661,830
Joined:Jan 2006
Message Posted: Mar 20, 2014 5:58:40 AM

What do we blame the rise of gas prices on now?
Profile Pic
sappie
Champion Author Massachusetts

Posts:5,796
Points:1,147,040
Joined:Jul 2010
Message Posted: Mar 20, 2014 5:58:05 AM

I agree with leeFree.
Profile Pic
djp071158
Champion Author Detroit

Posts:3,060
Points:854,870
Joined:May 2012
Message Posted: Mar 20, 2014 5:57:35 AM

Crude supplies up, gas down. Prices up.
Profile Pic
jeff95519
Champion Author California

Posts:4,866
Points:1,923,595
Joined:Sep 2008
Message Posted: Mar 20, 2014 5:57:07 AM

spring cleaning and crossover time for the refinery's
Profile Pic
LeeFree
Champion Author Pittsburgh

Posts:11,582
Points:2,806,950
Joined:Jun 2005
Message Posted: Mar 20, 2014 5:56:25 AM

Grab your ankles for the impending price hikes at the pump.
Profile Pic
jmg144
Champion Author Maryland

Posts:11,850
Points:3,439,595
Joined:Jul 2004
Message Posted: Mar 20, 2014 5:56:10 AM

Pump prices will continue to move upward.
Profile Pic
bobzilla11
Champion Author Indiana

Posts:2,724
Points:1,026,085
Joined:May 2011
Message Posted: Mar 20, 2014 5:54:32 AM

keep it here
Profile Pic
friday21
Champion Author Toronto

Posts:8,954
Points:1,203,465
Joined:Jul 2010
Message Posted: Mar 20, 2014 5:53:33 AM

Whatever
Profile Pic
Petrock
Champion Author Lexington

Posts:11,608
Points:3,130,485
Joined:Apr 2005
Message Posted: Mar 20, 2014 5:52:55 AM

"Gasoline inventories decreased" Sounds like the perfect excuse to raise prices even more.
Profile Pic
valby
Champion Author Massachusetts

Posts:5,402
Points:999,650
Joined:Jan 2005
Message Posted: Mar 20, 2014 5:52:55 AM

OK
Profile Pic
guypd
Sophomore Author New York

Posts:206
Points:799,815
Joined:Jan 2007
Message Posted: Mar 20, 2014 5:51:24 AM

It is really too bad that the increase in supplies of crude oil, doesn't mean that the cost of gas will go down. There are just too many other variables that will effect the price of gasoline.
Profile Pic
tallyman
Champion Author Tallahassee

Posts:1,412
Points:762,060
Joined:Jun 2012
Message Posted: Mar 20, 2014 5:50:59 AM

Allow more refineries to be built.
Profile Pic
infinititom
Champion Author Dallas

Posts:3,450
Points:1,088,525
Joined:Oct 2011
Message Posted: Mar 20, 2014 5:50:57 AM

With all the talk of extracting oil, refining needs to be addressed also.
Profile Pic
AKmailman
Champion Author Alaska

Posts:8,134
Points:2,126,145
Joined:Jul 2004
Message Posted: Mar 20, 2014 5:50:04 AM

Propaganda from DOE
Profile Pic
jppezz
Champion Author New Mexico

Posts:11,040
Points:2,263,065
Joined:Jun 2008
Message Posted: Mar 20, 2014 5:47:35 AM

Why is that to keep prices higher?
Profile Pic
Hunter114
Champion Author Chicago

Posts:15,150
Points:2,016,135
Joined:Apr 2009
Message Posted: Mar 20, 2014 5:47:23 AM

That partly explains the price spike.
Profile Pic
rte3tdi
Champion Author New Hampshire

Posts:1,317
Points:949,265
Joined:Mar 2011
Message Posted: Mar 20, 2014 5:46:26 AM

Diesel is coming down ... slowly ... around here
Profile Pic
74celica
Champion Author Columbus

Posts:3,904
Points:2,382,385
Joined:May 2006
Message Posted: Mar 20, 2014 5:46:20 AM

here comes the latest excuse to raise prices
Profile Pic
bradbeebe52
Champion Author Wilmington

Posts:1,502
Points:766,215
Joined:Apr 2011
Message Posted: Mar 20, 2014 5:46:00 AM

These numbers and what's happening on the ground don't jibe.
Profile Pic
Rick52
Champion Author Milwaukee

Posts:14,798
Points:1,761,765
Joined:Mar 2005
Message Posted: Mar 20, 2014 5:45:53 AM

Just thing about the Money they are making at these prices..
Profile Pic
dfp609
Champion Author Cincinnati

Posts:2,032
Points:649,980
Joined:Feb 2012
Message Posted: Mar 20, 2014 5:45:20 AM

I think it's going to be a long time before prices ever stabilize.
Profile Pic
fillerupyeoww
Champion Author Columbus

Posts:8,343
Points:2,220,985
Joined:Mar 2008
Message Posted: Mar 20, 2014 5:43:53 AM

A very few stations around here are posting lower prices recently.
Profile Pic
studebaker1940
Champion Author Tampa

Posts:4,951
Points:1,250,720
Joined:Mar 2011
Message Posted: Mar 20, 2014 5:43:35 AM

get ready for $10 a gallon
Post a reply Back to Topics