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Author Topic: EIA: Gasoline inventories drop... again, overall supply lags last year Back to Topics
PD

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Message Posted: May 29, 2014 11:06:44 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 1.7 million barrels to a total of 393.0 million barrels. At 393.0 million barrels, inventories are 4.6 million barrels below last year (-1.2%) and are in the upper half of the average range for this time of year.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.8 million barrels to 211.6 million barrels. At 211.6 million barrels, inventories are down 7.6 million barrels, or 3.5% lower than one year ago. Here's how individual regions and their gasoline inventory fared last week: East Coast (+2.4mb); Midwest (-2.0mb); Gulf Coast (-1.5mb); Rockies (+0.0mb); and West Coast (-0.7mb). It is important to note which regions saw increases/decreases as this information likely drives prices up (in the case of fa

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dietpepsiman
Rookie Author Raleigh

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Message Posted: Jul 10, 2014 11:43:27 PM

I don't know the government is giving so big tax to the oil company and the keep raising the price. I think it is close to be Criminal. What do you think??
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JOHNJOEYJOE
Champion Author Texas

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Message Posted: Jun 5, 2014 6:45:21 AM

All part of the grand scheem of things to keep prices higher.
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JOHNJOEYJOE
Champion Author Texas

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Message Posted: Jun 3, 2014 7:23:45 AM

EXPORTS!
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honda0105
Champion Author Tallahassee

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Message Posted: Jun 1, 2014 7:28:07 AM

more specutraitor feed. And another reason for soon another round of BOHICA.
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Tundralimited2009
Champion Author Dallas

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Message Posted: Jun 1, 2014 3:18:02 AM

Great News
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lorimarie36
Champion Author New York

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Message Posted: May 31, 2014 1:37:07 PM

ok
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PAA64
Champion Author Cincinnati

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Message Posted: May 31, 2014 6:37:54 AM

k
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lgwhitlock
Champion Author Chico

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Message Posted: May 30, 2014 11:26:09 PM

Another week another government sponsored speculation report...
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csblesson
Champion Author Texas

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Message Posted: May 30, 2014 10:48:40 PM

Good
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CrazyLady2
Champion Author Maine

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Message Posted: May 30, 2014 8:51:52 PM

Okay
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NotmeuQc
Champion Author Montreal

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Message Posted: May 30, 2014 12:46:11 PM

Thanks for the info.
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fedupp
Champion Author Cleveland

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Message Posted: May 30, 2014 12:32:13 PM

The super high price oil story was five years gone before Obama even got in got in,and the economy is doing way better than when the last clown pres and vp left.And the domestic fuel market requires sky high world oil prices to opperate-so I'm really not sure where you are going with all that.
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tomok
Champion Author Portland

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Message Posted: May 30, 2014 12:21:02 PM

Gasoline inventories drop... again, overall supply lags last year and there are high 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 decreased, Refinery utilization up 2.3% from last week, Total US oil stocks down 2.1% over last year and there are still high fuel prices at the pump! ***Produce less fuel, create a false shortage and charge more at the pump! ***Why have it any other way? *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’ are to be used by the countries 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!
Fuel prices are up at local gas stations ---->>>>> DOWN IS BETTER!
This sounds like prejacu---, ahhhhhh, manipulation to me! ***What a Crap of Crock this is!
***Produced by nonessential federal employees for your enjoyment using our taxpayer money. **Putz!! bwaaa ha ha ha !...
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!
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Costello
Champion Author South Dakota

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Message Posted: May 30, 2014 10:47:52 AM

...Here comes the price spike!!!
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CivicMA
Champion Author Boston

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Message Posted: May 30, 2014 9:56:30 AM

More excuses for keeping prices high.
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fedupp
Champion Author Cleveland

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Message Posted: May 30, 2014 9:44:26 AM

Sneakers55--I would like to add to that:the crude oil price we see today is nowhere near as high as they thought it would go,when all this started in 2003---by 2008 crude oil was driven to $145.00+and then the market crashed,of course--this is why today, shares in some oil development companies can be purchased for under $5.00 --and it's the same reason the oil developing companies extracting in the US are pushing hard for crude oil export permits.
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Sneakers55
Champion Author Houston

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Message Posted: May 30, 2014 9:38:24 AM

On May 30, 2014 8:22:57 AM, CliffW wrote:

>Build more refineries! Are they not saying we have more home grown
>petroleum than ever? Does us no good if we can't process it!

For various reasons, it is a lot easier to expand ("debottleneck") an existing refinery than it is to build a new refinery. A lot of debottlenecking plans got put on hold after Bush's 2005 Energy Policy Act. Refined fuel demand has dropped every year since 2004.
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paoli8
Champion Author Philadelphia

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Message Posted: May 30, 2014 9:37:04 AM

Looks like fuel costs could be on their way up for the summer travelers
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tigreme
Champion Author Maine

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Message Posted: May 30, 2014 9:35:29 AM

I guess we know what that means. Inventories drop, demand increases for the summer and prices climb. It's the same fomula every year.
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INBwana
Champion Author Indiana

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Message Posted: May 30, 2014 9:30:52 AM


I guess this is why gas is .01 cent below $4.00 here.
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fedupp
Champion Author Cleveland

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Message Posted: May 30, 2014 9:29:57 AM

Studebaker1940--why did they do this? The reason is simple--more extraction possibilities---they can't frack for oil,horizontally drill for oil,or steam tar oil out of sand pits with natural gas,and solvents without sky high manipulated world market oil prices---and these "people" are international billionaire oil producers--the environment,or what "the people" think are only in their way,they will do whatever they want,and with the help of massive propaganda campaigns,they will get at least half the people to cheer for them while they do it,even though it will cost all of us dearly from now on.
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PackerfanMN
Champion Author Twin Cities

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Message Posted: May 30, 2014 9:28:07 AM

Just an excuse to raise the price at the pump!
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jimbo1031
Champion Author Phoenix

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Message Posted: May 30, 2014 9:27:46 AM

how accurate are the government's numbers?
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TXGasPriceSpy
Champion Author Fort Worth

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Message Posted: May 30, 2014 9:27:09 AM

Up, down, up, down.....
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DJRIO
Champion Author Miami

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Message Posted: May 30, 2014 9:26:41 AM

next week is a new week
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DABEE1073
Champion Author San Diego

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Message Posted: May 30, 2014 9:26:17 AM

That is what they say. Just to raise the pump price.
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SnickersDog
Champion Author Denver

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Message Posted: May 30, 2014 9:26:04 AM

were using less and paying more to drive.
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scrossi
Champion Author Indiana

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Message Posted: May 30, 2014 9:25:21 AM

GREED RULES!
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badbonita
Champion Author Syracuse

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Message Posted: May 30, 2014 9:24:56 AM

And the prices are going up because of it. We can't win - inventories are up so the price goes up. Inventories are down, so the price goes up.
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RichardoB
Champion Author Fayetteville

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Message Posted: May 30, 2014 9:24:30 AM

The amount of gasoline is kept low so the prices can be kept high.
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Seamus4513
Champion Author Orange County

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Message Posted: May 30, 2014 9:23:35 AM

By design?
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CliffW
Champion Author Washington

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Message Posted: May 30, 2014 9:22:57 AM

Build more refineries! Are they not saying we have more home grown petroleum than ever? Does us no good if we can't process it!
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LoneGuy
Champion Author Lansing

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Message Posted: May 30, 2014 9:22:57 AM

We need to be aware!
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BudsterMO
Champion Author Kansas City

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Message Posted: May 30, 2014 9:22:44 AM

We are awash in crude oil here in the USA which begs the question of how can supply lag demand? Greed, greed and more greed.
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Point__man
Champion Author Raleigh

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Message Posted: May 30, 2014 9:22:31 AM

numbers; just meaningless numbers; gasoline up here again ;)
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RamboOn66
Champion Author Tampa

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Message Posted: May 30, 2014 9:21:38 AM

And "they" say fuel prices are lower? BS! Went $.05 p/g gallon here since Monday.
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merlinCO
Champion Author Colorado

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Message Posted: May 30, 2014 9:21:32 AM

Exports of oil to China.
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w4kh
Champion Author Tennessee

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Message Posted: May 30, 2014 9:21:25 AM

So crude oil inventories "increase" by 4/10 of 1% which is statistically insignificant and could be a "counting error" and gasoline inventories "DROP" by 8/10 of 1% which ought to be no cause for any movement in pump prices, but speculators will likely drive up pump prices and spread the fear, uncertainty, and doubt to support higher prices... NOT cool!
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fedupp
Champion Author Cleveland

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Message Posted: May 30, 2014 9:20:03 AM

Floridaman2013--the bigger problem than a glut of the most expensive to lift oil "resoures" on earth(frack/shale-sand tar oil) is the markets that were created for it with all out war and lies over the last 11 years--the fact that they have a market anywhere for $100.00+ crude oil is almost as scary as China,and now Russia controling most of Iraq's giant,super cheap ocean of high quality oil(and natural gas)in the form of cheap leases made available by our foreign policy over the last decade.
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CYBERCAT11
Champion Author New Jersey

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Message Posted: May 30, 2014 9:19:52 AM

And?
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apachewarrior3
Champion Author Alberta

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Message Posted: May 30, 2014 9:19:30 AM

really?
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snapper06
Champion Author Toledo

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Message Posted: May 30, 2014 9:19:16 AM

As quick as this article hit the press, gasoline prices hit 3.99 gal at pump here. Too bad announcing my funds in bank account low would achieve same response equivalent from Big OIL to me. LOL
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prius22
Champion Author Twin Cities

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Message Posted: May 30, 2014 9:19:06 AM

Just more stats. Buisy body time filler.
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fora_7
Champion Author Montreal

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Message Posted: May 30, 2014 9:19:03 AM

Where's the difference
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spike55sk
Champion Author Saskatchewan

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Message Posted: May 30, 2014 9:18:45 AM

And???
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redhornet
Champion Author Minnesota

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Message Posted: May 30, 2014 9:18:36 AM

lol
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chesapeake07
Champion Author Oklahoma City

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Message Posted: May 30, 2014 9:17:43 AM

what does this change?
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IronMyShirt
Champion Author Akron

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Message Posted: May 30, 2014 9:17:42 AM

We had an immediate $0.30 hike yesterday based on this "report." If inventories go up, should I expect an immediate $0.30 drop? I won't hold my breath.
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BrowntruckCA
Champion Author California

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Message Posted: May 30, 2014 9:17:14 AM

Not a surprise since the Obama administration is actively pursuing the goal of making fuel less accessible and less affordable.
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ModelWarships
Champion Author Missouri

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Message Posted: May 30, 2014 9:17:08 AM

same old same old
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