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EIA: Crude inventories up, refinery output up, gasoline stocks fall as summer switch-over nearly com

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 2.8 million barrels to a total of 375.9 million barrels. At 375.9 million barrels, inventories are 9.3 million barrels above last year (2.5%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 2.0 million barrels to 209.7 million barrels. At 209.7 million barrels, inventories are up 5.2 million barrels, or 2.5% higher than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-0.8mb); Midwest...

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Submitted May 02, 2012 By: PD

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scrossi Champion Author Indiana Posts:3,874 Points:1,046,540 Joined:Dec 2008	Message Posted: May 3, 2012 9:46:15 AM Ignore scrossi Report Abuse True drcashflow.
hwmillerster Champion Author Missouri Posts:6,779 Points:1,462,645 Joined:Oct 2008	Message Posted: May 3, 2012 9:46:01 AM Ignore hwmillerster Report Abuse No reason for gas prices to go up.
DrCashFlow Champion Author Massachusetts Posts:7,059 Points:1,625,275 Joined:Jun 2008	Message Posted: May 3, 2012 9:44:14 AM Ignore DrCashFlow Report Abuse time for prices to head south
thepi All-Star Author Twin Cities Posts:745 Points:1,339,565 Joined:Nov 2001	Message Posted: May 3, 2012 9:44:12 AM Ignore thepi Report Abuse And this means WHAT in regards to my life?
vcsuksu21 Champion Author Oklahoma City Posts:2,468 Points:704,430 Joined:Dec 2010	Message Posted: May 3, 2012 9:42:33 AM Ignore vcsuksu21 Report Abuse ok
Black Wagon Champion Author Illinois Posts:7,301 Points:1,800,070 Joined:Mar 2004	Message Posted: May 3, 2012 9:42:28 AM Ignore Black Wagon Report Abuse The Energy Information Administration? What's this another waste of tax money?
Harry813 Champion Author Iowa Posts:2,995 Points:659,915 Joined:Jul 2011	Message Posted: May 3, 2012 9:42:25 AM Ignore Harry813 Report Abuse And........ The prices are up ;)
mattymattmatt All-Star Author Scranton Posts:889 Points:362,590 Joined:Mar 2011	Message Posted: May 3, 2012 9:42:18 AM Ignore mattymattmatt Report Abuse Herp Derp.
vrossi46 Champion Author San Jose Posts:2,662 Points:802,970 Joined:Oct 2008	Message Posted: May 3, 2012 9:41:57 AM Ignore vrossi46 Report Abuse hate to think how much it costs us for the govt to produce this worthless report
rampower80 Champion Author Kentucky Posts:2,029 Points:459,740 Joined:Jan 2012	Message Posted: May 3, 2012 9:41:35 AM Ignore rampower80 Report Abuse Sounds like we have increasing supply and decreasing demand. Should be time for prices to fall dramatically based upon economic theory.
4064BORI Champion Author Virginia Beach Posts:1,381 Points:419,155 Joined:Feb 2010	Message Posted: May 3, 2012 9:40:44 AM Ignore 4064BORI Report Abuse ok
GNReddy Sophomore Author Huntsville Posts:141 Points:58,375 Joined:Apr 2012	Message Posted: May 3, 2012 9:40:03 AM Ignore GNReddy Report Abuse Really!
Donatelo Champion Author Dayton Posts:1,118 Points:291,825 Joined:Apr 2011	Message Posted: May 3, 2012 9:39:48 AM Ignore Donatelo Report Abuse ok
Somis1 Champion Author Ventura Posts:13,672 Points:2,612,825 Joined:Jul 2005	Message Posted: May 3, 2012 9:39:03 AM Ignore Somis1 Report Abuse Crude hasn't dropped, so I don't expect retail prices to drop.
Red7002011 Champion Author Mississippi Posts:3,322 Points:666,770 Joined:Jul 2011	Message Posted: May 3, 2012 9:38:49 AM Ignore Red7002011 Report Abuse Really!
bluenvoy Champion Author Nashville Posts:14,954 Points:1,873,965 Joined:Oct 2005	Message Posted: May 3, 2012 9:38:08 AM Ignore bluenvoy Report Abuse The speculators are looking for another dog to die so they can raise prices.
Wildman14 Champion Author Virginia Posts:3,675 Points:834,905 Joined:Jul 2008	Message Posted: May 3, 2012 9:37:53 AM Ignore Wildman14 Report Abuse Well past time to bring back the price controls the peanut farmer eliminated in the '70s.
Wizrd03 Champion Author Illinois Posts:8,142 Points:1,630,385 Joined:Oct 2008	Message Posted: May 3, 2012 9:37:34 AM Ignore Wizrd03 Report Abuse Well said, tomok
Reddy Sophomore Author Huntsville Posts:150 Points:62,575 Joined:Apr 2012	Message Posted: May 3, 2012 9:37:23 AM Ignore Reddy Report Abuse waiting for lower gas prices!
ss70 Champion Author Detroit Posts:9,645 Points:1,868,150 Joined:Sep 2005	Message Posted: May 3, 2012 9:37:16 AM Ignore ss70 Report Abuse time to click on other stories to make them come up to this section.
putz247 Champion Author Ohio Posts:2,281 Points:511,180 Joined:Aug 2011	Message Posted: May 3, 2012 9:36:55 AM Ignore putz247 Report Abuse ok
tomok Champion Author Portland Posts:32,954 Points:2,343,560 Joined:Aug 2006	Message Posted: May 3, 2012 9:34:34 AM Ignore tomok Report Abuse Crude oil inventories increased, Gasoline inventories decreased, Distillate inventories decreased, Refinery utilization rise of 1.3%, Total US oil stocks are up. Fuel demand is down and fuel prices at the pump are high. 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, 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 less expensive transportation to lower your cost, if possible! The price of fuel at the pump is too high! 12/22/2012!
Bullseye520 Champion Author Louisville Posts:2,187 Points:665,440 Joined:Apr 2011	Message Posted: May 3, 2012 9:34:03 AM Ignore Bullseye520 Report Abuse So when will the price go down further?
Gascapade Champion Author Fort Worth Posts:3,012 Points:480,730 Joined:Mar 2009	Message Posted: May 3, 2012 9:33:59 AM Ignore Gascapade Report Abuse It seems rather pointless to look at supply figures in todays market, as rampant speculation determines price, not supply/demand....
Goody2317 All-Star Author Wilmington Posts:680 Points:617,755 Joined:Jun 2008	Message Posted: May 3, 2012 9:33:44 AM Ignore Goody2317 Report Abuse This is why we need to get rid of foreign oil. Then we can control our prices, not everyone else.
lonewolfhead Champion Author Texas Posts:1,641 Points:560,040 Joined:Aug 2011	Message Posted: May 3, 2012 9:33:30 AM Ignore lonewolfhead Report Abuse OK
gasman50 Champion Author Portland Posts:8,834 Points:2,407,535 Joined:Nov 2005	Message Posted: May 3, 2012 9:32:55 AM Ignore gasman50 Report Abuse Yesterdays post
Yonkers111 Champion Author Scranton Posts:8,331 Points:857,085 Joined:Apr 2007	Message Posted: May 3, 2012 9:32:53 AM Ignore Yonkers111 Report Abuse Plenty of fuel for my travels.
mreiff Champion Author Louisville Posts:5,340 Points:1,301,740 Joined:May 2009	Message Posted: May 3, 2012 9:31:41 AM Ignore mreiff Report Abuse Soner or later the house of cards will crumble with these stockpiles!
nozzle46 Champion Author Little Rock Posts:6,680 Points:1,470,775 Joined:Jul 2006	Message Posted: May 3, 2012 9:31:04 AM Ignore nozzle46 Report Abuse crude has gone beyond the average 5 year range for this time of year.
Minutefan Champion Author Springfield Posts:3,305 Points:1,244,580 Joined:Aug 2004	Message Posted: May 3, 2012 9:31:01 AM Ignore Minutefan Report Abuse Prices at the pump need to come down.
bobzilla11 Champion Author Indiana Posts:1,192 Points:493,445 Joined:May 2011	Message Posted: May 3, 2012 9:30:58 AM Ignore bobzilla11 Report Abuse Kick em when they are up kick em when they are down....
crusader1975 Champion Author Louisiana Posts:1,131 Points:307,540 Joined:Apr 2008	Message Posted: May 3, 2012 9:30:17 AM Ignore crusader1975 Report Abuse Old news
jorobins538 Champion Author Chicago Posts:4,727 Points:637,345 Joined:Sep 2009	Message Posted: May 3, 2012 9:29:53 AM Ignore jorobins538 Report Abuse ok
1958tomg Champion Author Kansas Posts:2,126 Points:543,390 Joined:Oct 2011	Message Posted: May 3, 2012 9:28:44 AM Ignore 1958tomg Report Abuse ok
mitchells Champion Author Montreal Posts:3,851 Points:1,122,310 Joined:Oct 2009	Message Posted: May 3, 2012 9:27:59 AM Ignore mitchells Report Abuse Same news story every year at this time, as refineries make their switch to Summer gas and go maintenance, oil inventories go up and gas goes down.
Spirits All-Star Author Florida Posts:911 Points:372,800 Joined:May 2008	Message Posted: May 3, 2012 9:26:01 AM Ignore Spirits Report Abuse Total price manipulation.
Furrykids Sophomore Author Gainesville Posts:230 Points:554,740 Joined:Mar 2011	Message Posted: May 3, 2012 9:25:55 AM Ignore Furrykids Report Abuse Interesting
DarthDadJr Champion Author Virginia Posts:7,302 Points:1,519,470 Joined:Jul 2008	Message Posted: May 3, 2012 9:25:51 AM Ignore DarthDadJr Report Abuse Gas prices are dropping and I hope it continues for a bit longer....
BCM1 Champion Author Pennsylvania Posts:1,859 Points:782,020 Joined:Jun 2007	Message Posted: May 3, 2012 9:25:19 AM Ignore BCM1 Report Abuse Why isn't the law of supply and demand working if supplies are up and demand is down?
roundtrip100 Champion Author Fort Wayne Posts:1,993 Points:394,025 Joined:Apr 2012	Message Posted: May 3, 2012 9:22:43 AM Ignore roundtrip100 Report Abuse Now we know how they control price. Fix the problem!
AC-302 Champion Author Los Angeles Posts:26,568 Points:2,900,145 Joined:Aug 2004	Message Posted: May 3, 2012 9:22:36 AM Ignore AC-302 Report Abuse Prices are going up here in LaLa land..
w4kh Champion Author Tennessee Posts:11,660 Points:2,227,040 Joined:May 2004	Message Posted: May 3, 2012 9:22:26 AM Ignore w4kh Report Abuse This really is only news IF pump prices of gasoline were strictly a supply-demand relationship... there is much more to how the pump price is determined... based on this data, supply down, so pump price should go up; inventory is greater than a year ago, so what?
no_monkey2002 Champion Author Tallahassee Posts:8,410 Points:2,069,225 Joined:Mar 2006	Message Posted: May 3, 2012 9:22:04 AM Ignore no_monkey2002 Report Abuse wem need a new attorney general who will work for the people...by by obama
pricechecker08 Champion Author Ohio Posts:7,866 Points:1,698,750 Joined:Jan 2008	Message Posted: May 3, 2012 9:21:13 AM Ignore pricechecker08 Report Abuse same old story.
NemoIL Champion Author Illinois Posts:3,010 Points:1,310,195 Joined:Aug 2008	Message Posted: May 3, 2012 9:20:33 AM Ignore NemoIL Report Abuse An artificial shortage in the making. Gas prices will rise for sure.
arcaneradio Champion Author Michigan Posts:2,517 Points:489,980 Joined:Dec 2010	Message Posted: May 3, 2012 9:20:04 AM Ignore arcaneradio Report Abuse Gas prices are up to.
BANKIS2 Champion Author Phoenix Posts:4,256 Points:912,605 Joined:Aug 2010	Message Posted: May 3, 2012 9:19:06 AM Ignore BANKIS2 Report Abuse wow
firemunkee Veteran Author Maryland Posts:408 Points:56,450 Joined:Jan 2012	Message Posted: May 3, 2012 9:19:00 AM Ignore firemunkee Report Abuse interesting.
TAT36 Champion Author Florida Posts:6,789 Points:1,301,075 Joined:Sep 2009	Message Posted: May 3, 2012 9:17:02 AM Ignore TAT36 Report Abuse Same old story, oil inventories up, gas inventories down, gas prices up.
Hunter114 Champion Author Chicago Posts:9,068 Points:1,447,785 Joined:Apr 2009	Message Posted: May 3, 2012 9:15:32 AM Ignore Hunter114 Report Abuse Not enough refining going on.