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EIA: Crude and gasoline inventories up big

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 338.9 million barrels. At 338.9 million barrels, inventories are 4.2 million barrels below last year (-1.2%) and are in the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories increased by 3.0 million barrels to 230.1 million barrels. At 230.1 million barrels, inventories are 6.1 million barrels, or 2.6% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+2.7mb); Midwest ...

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Submitted Feb 01, 2012 By: PD

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1006 Champion Author Birmingham Posts:1,017 Points:1,105,480 Joined:Apr 2008	Message Posted: Feb 5, 2012 7:52:13 PM Ignore 1006 Report Abuse moving on up
1006 Champion Author Birmingham Posts:1,017 Points:1,105,480 Joined:Apr 2008	Message Posted: Feb 3, 2012 10:10:26 PM Ignore 1006 Report Abuse have to agree with you smoke
123cowboy Champion Author Maine Posts:1,724 Points:348,140 Joined:Mar 2011	Message Posted: Feb 2, 2012 8:01:58 PM Ignore 123cowboy Report Abuse more smoke and mirrors...
tomok Champion Author Portland Posts:26,023 Points:1,981,410 Joined:Aug 2006	Message Posted: Feb 2, 2012 5:05:43 AM Ignore tomok Report Abuse Crude oil inventories increased, Gasoline inventories increased, Distillate inventories decreased and Refinery utilization fell. Total oil stocks in the US are down. ‘Almost’ the same as last week. STOP Big oil from 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. Produce and ‘drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! 12/22/2012!
TIGERPAW46 Champion Author Florida Posts:5,547 Points:1,048,995 Joined:Mar 2004	Message Posted: Feb 2, 2012 2:40:31 AM Ignore TIGERPAW46 Report Abuse The Only way to better stabilize petroleum prices is to stop or control Speculation on Commodities Futures. Washington knows this but refuses to insist that it be done. The other way is to regulate Exportation to keep prices lower in the USA. Many other nations have no problem doing this via laws or Export Taxes.
NOTSOGRN Champion Author Michigan Posts:1,506 Points:1,179,515 Joined:Dec 2007	Message Posted: Feb 2, 2012 2:25:58 AM Ignore NOTSOGRN Report Abuse . . If one's demand was down & could find another buyer would you do that...exporting keeps it running. . If it meant keeping the business producing @ least till demand pick backup or shutting the door... . The doors have been shut the demand returns now not enough producers...gee what happen to the good old day's when gas was 3.41...
GryphonX Champion Author Nevada Posts:4,997 Points:1,280,495 Joined:Nov 2007	Message Posted: Feb 2, 2012 2:20:47 AM Ignore GryphonX Report Abuse Then WHY are prices climbing ...?
Focus2 Champion Author Illinois Posts:6,711 Points:1,703,300 Joined:Mar 2006	Message Posted: Feb 2, 2012 2:11:44 AM Ignore Focus2 Report Abuse Amazing how hard refineries can work when they get to charge what they want and double their exports of fuel to other countries!
NOTSOGRN Champion Author Michigan Posts:1,506 Points:1,179,515 Joined:Dec 2007	Message Posted: Feb 2, 2012 2:10:31 AM Ignore NOTSOGRN Report Abuse . . Who's really making the money. ExxonMobil’s earnings: The real story you won’t hear in Washington First 1/4 2011 ____ Total Expenses $77.1 billion ___ Earnings $10.7 billion __ The Gov's take $ 26.2 billion ... That's more than double what ExxonMobil made. . . ExxonMobil’s earnings: The real story you won’t hear in Washington [Edited by: NOTSOGRN at 2/2/2012 1:12:20 AM EST]
Zonk Champion Author Michigan Posts:4,642 Points:1,740,675 Joined:Oct 2005	Message Posted: Feb 2, 2012 2:06:51 AM Ignore Zonk Report Abuse Small changes in inventory, generally have little effect on pump prices.
Bill100 Champion Author Grand Rapids Posts:38,332 Points:807,270 Joined:Jan 2010	Message Posted: Feb 2, 2012 1:58:58 AM Ignore Bill100 Report Abuse Good news. Not that it really matters, though.
bobdec Champion Author Florida Posts:7,238 Points:1,427,415 Joined:May 2008	Message Posted: Feb 2, 2012 1:54:50 AM Ignore bobdec Report Abuse SO, why are prices still going up
nomad228 Champion Author Columbus Posts:1,811 Points:339,425 Joined:Feb 2011	Message Posted: Feb 2, 2012 1:53:44 AM Ignore nomad228 Report Abuse still needs to be ten times that.
CarolinaBlue150 Champion Author North Carolina Posts:1,320 Points:260,775 Joined:Aug 2011	Message Posted: Feb 2, 2012 1:52:52 AM Ignore CarolinaBlue150 Report Abuse and so are prices. Makes no sense.
defiancegasman Champion Author Ohio Posts:5,863 Points:1,073,530 Joined:May 2006	Message Posted: Feb 2, 2012 1:52:45 AM Ignore defiancegasman Report Abuse But BIG OIL still gets away with PRICE GOUGING us. Add to that all the RECORD PROFITS they are making during a US and WORLD RECESSION.
AnObserver Champion Author New Jersey Posts:6,730 Points:1,933,285 Joined:Sep 2005	Message Posted: Feb 2, 2012 1:52:38 AM Ignore AnObserver Report Abuse That's what happens when proces get too high and people stop buying
heartbroken2010 Champion Author Ottawa Posts:2,502 Points:533,455 Joined:Aug 2010	Message Posted: Feb 2, 2012 1:48:39 AM Ignore heartbroken2010 Report Abuse ok then , lower the prices for a bit , give us a little mercy.
RAKARWOWSKI Champion Author Chicago Posts:2,187 Points:458,885 Joined:Jan 2011	Message Posted: Feb 2, 2012 1:48:07 AM Ignore RAKARWOWSKI Report Abuse So what! Big oil will still screw us in the end.
Double_Golden All-Star Author San Francisco Posts:730 Points:241,755 Joined:Aug 2011	Message Posted: Feb 2, 2012 1:47:54 AM Ignore Double_Golden Report Abuse good
pgerassi Champion Author Milwaukee Posts:9,039 Points:1,767,585 Joined:Apr 2007	Message Posted: Feb 2, 2012 1:46:37 AM Ignore pgerassi Report Abuse Demand is down and so should prices be.
Rageagainsttm Champion Author Tampa Posts:6,509 Points:1,546,970 Joined:Jul 2007	Message Posted: Feb 2, 2012 1:40:14 AM Ignore Rageagainsttm Report Abuse sure
goldrose1 Champion Author Cleveland Posts:9,052 Points:1,570,730 Joined:Feb 2005	Message Posted: Feb 2, 2012 1:36:20 AM Ignore goldrose1 Report Abuse Small businesses can't afford fuel costs. Won't be solid new jobs this way.
regout Champion Author Quebec Posts:1,387 Points:497,120 Joined:May 2010	Message Posted: Feb 2, 2012 1:35:37 AM Ignore regout Report Abuse Prices stays high.
chuckwthompson Champion Author Charlotte Posts:1,870 Points:213,535 Joined:Sep 2011	Message Posted: Feb 2, 2012 1:28:05 AM Ignore chuckwthompson Report Abuse Inventories up? Don't worry, big oil will sell off our reserves just so we can buy them back at a large increase in price. What is wrong with the oil companies? GREED We need to regulate these greedy b**tards!
judgemobile Champion Author Ohio Posts:5,752 Points:2,083,280 Joined:Nov 2005	Message Posted: Feb 2, 2012 1:26:44 AM Ignore judgemobile Report Abuse If inventories are WAY UP, why is Gas Buddy sending out BIG price hike warnings ???
BWJM All-Star Author KW Posts:513 Points:179,065 Joined:Oct 2011	Message Posted: Feb 2, 2012 1:23:24 AM Ignore BWJM Report Abuse ok
leraar2 Champion Author Massachusetts Posts:1,940 Points:427,820 Joined:Mar 2011	Message Posted: Feb 2, 2012 1:22:11 AM Ignore leraar2 Report Abuse we don't need to drill more as much as build new, publicly owned, refineries to keep the gougers in line.
jkpsr Champion Author New Jersey Posts:2,520 Points:757,065 Joined:Jun 2005	Message Posted: Feb 2, 2012 1:21:21 AM Ignore jkpsr Report Abuse Maybe the Obama Administration should take another look at selling the SPR, at least to ourselves.
Colts13 All-Star Author Indiana Posts:650 Points:254,220 Joined:Mar 2011	Message Posted: Feb 2, 2012 1:20:58 AM Ignore Colts13 Report Abuse ok
Ahking Champion Author Orange County Posts:1,991 Points:326,175 Joined:May 2011	Message Posted: Feb 2, 2012 1:19:25 AM Ignore Ahking Report Abuse let's take a longer look & see if this trend continues.
TXRanger09 Champion Author Dallas Posts:1,410 Points:627,990 Joined:May 2009	Message Posted: Feb 2, 2012 1:19:19 AM Ignore TXRanger09 Report Abuse Oh sure. Export of gasoline is greater than import. Hope our trade deficit reflects this.
Rooster922 Champion Author Wilmington Posts:2,132 Points:329,940 Joined:Jan 2009	Message Posted: Feb 2, 2012 1:18:55 AM Ignore Rooster922 Report Abuse I don't need that information, regardless, the price of gas has a mind of its own.
bikechuck Champion Author Indianapolis Posts:5,160 Points:1,700,035 Joined:Apr 2006	Message Posted: Feb 2, 2012 1:18:43 AM Ignore bikechuck Report Abuse As prices go up, inventories also seem to go up.
Blue_Cruzer Champion Author Lexington Posts:5,676 Points:1,305,505 Joined:Mar 2007	Message Posted: Feb 2, 2012 1:17:48 AM Ignore Blue_Cruzer Report Abuse So what is causing all the turmoil in price of gas?
Matt G Champion Author Boston Posts:2,691 Points:2,408,485 Joined:Jun 2004	Message Posted: Feb 2, 2012 1:17:15 AM Ignore Matt G Report Abuse Prices still rising
GasholeMI Champion Author Lansing Posts:8,295 Points:1,354,190 Joined:Jul 2008	Message Posted: Feb 2, 2012 1:16:29 AM Ignore GasholeMI Report Abuse Let the cup runneth over.
joel27nc Champion Author Raleigh Posts:8,686 Points:1,495,245 Joined:Mar 2008	Message Posted: Feb 2, 2012 1:15:54 AM Ignore joel27nc Report Abuse Blah, Blah, Blah. Bring the prices down.
frostyWV Champion Author West Virginia Posts:1,546 Points:349,750 Joined:May 2011	Message Posted: Feb 2, 2012 1:15:31 AM Ignore frostyWV Report Abuse ok
NO_SWEAT Champion Author Toronto Posts:2,683 Points:746,050 Joined:Jul 2008	Message Posted: Feb 2, 2012 1:15:16 AM Ignore NO_SWEAT Report Abuse So why haven't price fallen?
twiper1 Champion Author San Diego Posts:5,992 Points:1,241,960 Joined:Oct 2008	Message Posted: Feb 2, 2012 1:14:17 AM Ignore twiper1 Report Abuse And so are prices
carpenter4u Champion Author Virginia Posts:1,197 Points:283,390 Joined:Jul 2011	Message Posted: Feb 2, 2012 1:12:57 AM Ignore carpenter4u Report Abuse So why the big increase in prices
rawdog1313 Champion Author Lexington Posts:1,490 Points:1,279,485 Joined:May 2008	Message Posted: Feb 2, 2012 1:12:51 AM Ignore rawdog1313 Report Abuse Gas prices are driven by non regulated Oil Speculation......
Buddy2264 Champion Author Tampa Posts:9,792 Points:1,996,340 Joined:Oct 2005	Message Posted: Feb 2, 2012 1:12:13 AM Ignore Buddy2264 Report Abuse It is all about profit now, not supply and demand.
cloud23465 Champion Author Virginia Beach Posts:6,402 Points:1,257,300 Joined:Aug 2008	Message Posted: Feb 2, 2012 1:12:06 AM Ignore cloud23465 Report Abuse Yet were still getting screwed at the pumps... every day, more and more.
herndonks All-Star Author Baltimore Posts:905 Points:169,285 Joined:Dec 2011	Message Posted: Feb 2, 2012 1:10:53 AM Ignore herndonks Report Abuse Then there is no real economic reason for high gas pyices, other than fear and greed.
tedjm1 Champion Author New York Posts:4,060 Points:492,465 Joined:Dec 2006	Message Posted: Feb 2, 2012 1:10:38 AM Ignore tedjm1 Report Abuse Never mind this, explain price increses which makes sense. My take is they want greater profits. Period....
JENNYHK Champion Author Chicago Posts:1,859 Points:363,845 Joined:Apr 2011	Message Posted: Feb 2, 2012 1:08:30 AM Ignore JENNYHK Report Abuse More statistics
biza4u Champion Author New Haven Posts:6,687 Points:1,265,770 Joined:Jan 2007	Message Posted: Feb 2, 2012 1:08:09 AM Ignore biza4u Report Abuse And so are the prices
1cheapgasin Champion Author Indianapolis Posts:3,654 Points:846,190 Joined:Jul 2009	Message Posted: Feb 2, 2012 1:04:35 AM Ignore 1cheapgasin Report Abuse .
SUSANCK Champion Author Chicago Posts:1,867 Points:367,875 Joined:Apr 2011	Message Posted: Feb 2, 2012 1:00:34 AM Ignore SUSANCK Report Abuse Speculators set the price