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EIA: Massive increase in gasoline inventories, could push prices lower

GasBuddy Blog -- 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 decreased by 2.4 million barrels to a total of 371.8 million barrels. At 371.8 million barrels, inventories are 35.7 million barrels above last year (10.6%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories increased by 7.9 million barrels to 212.1 million barrels. At 212.1 million barrels, inventories are down 2.9 million barrels, or 1.3% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+0.5mb); Midwest...


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Submitted Dec 05, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: EIA: Massive increase in gasoline inventories, could push prices lower Back to Topics
REPLIES (newest first) Post a Reply
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Bearcat500
Champion Author Cincinnati

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Message Posted: Dec 16, 2012 11:09:13 AM

OK
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CapriceWagon
Champion Author Washington

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Message Posted: Dec 13, 2012 5:09:30 PM

They're dropping ever so slightly in Washington, $3.22 I saw this morning
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txrojo2005
Champion Author Austin

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Message Posted: Dec 13, 2012 2:40:40 PM

Prices are dropping in Central Texas.
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WanderDan
All-Star Author Dayton

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Message Posted: Dec 13, 2012 12:36:49 PM

may drop a little-- just enough to keep us on the juice.
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sjf238
Champion Author Philadelphia

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Message Posted: Dec 13, 2012 11:19:42 AM

OK.
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Donatelo
Champion Author Dayton

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Message Posted: Dec 11, 2012 10:50:05 AM

lower price always good
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dockersbin
Veteran Author North Carolina

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Message Posted: Dec 9, 2012 9:34:17 PM

better to have than to not
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MinnesotaDJ
Champion Author Minnesota

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Message Posted: Dec 9, 2012 5:51:34 PM

What about the refinery investigations from Sandy? Let's hear about that first!
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hogrider12
Rookie Author Phoenix

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Message Posted: Dec 9, 2012 1:56:31 PM

heres hoping
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skidsteer85xt
Champion Author Indiana

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Message Posted: Dec 7, 2012 9:38:32 AM

THR MORE THE BETTER
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Ray_10589
Champion Author New York

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Message Posted: Dec 7, 2012 1:01:19 AM

gas too high
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skybiker
Champion Author South Carolina

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Message Posted: Dec 6, 2012 11:56:56 PM

Bout time,,,,
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DanMtz
Champion Author Oakland

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Message Posted: Dec 6, 2012 7:56:41 PM

...unless, of course, there are other refinery "mishaps".
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merlinCO
Champion Author Colorado

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Message Posted: Dec 6, 2012 10:26:00 AM

? Oh yeah the market is dictated by financial wizzards not supply and demand.
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eschroth442
Champion Author Cleveland

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Message Posted: Dec 6, 2012 10:08:04 AM

don't worry, something "{minor",sorry MAJOR will ahppen and the price to us will soar!!!
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jetlagAK
Champion Author Anchorage

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Message Posted: Dec 6, 2012 6:12:00 AM

Yeah right.
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RockCity
Champion Author Denver

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Message Posted: Dec 6, 2012 6:06:17 AM

My money is on the, could push prices higher side, perhaps.
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fillerupyeoww
Champion Author Columbus

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Message Posted: Dec 6, 2012 6:05:02 AM

Shoulda woulda coulda.
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isem
Champion Author Missouri

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Message Posted: Dec 6, 2012 6:03:28 AM

Lower is a relative term. The drop of a few cents at the pump will not make up for the dollars that have been added to the pump price in just a few short years. Sub $2.00 gas will never be back.
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LeeFree
Champion Author Pittsburgh

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Message Posted: Dec 6, 2012 6:03:07 AM

I keep waiting for that big price drop at the pump but it's holding firm at $3.59/gal in my area.
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bassakwards007
Champion Author Orange County

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Message Posted: Dec 6, 2012 6:02:02 AM

Hope so
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chuckwthompson
Champion Author Charlotte

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Message Posted: Dec 6, 2012 6:01:46 AM

Heart be still!
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Z06KY
Champion Author Louisville

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Message Posted: Dec 6, 2012 5:56:33 AM

Outstanding but will it effect the pump is another thing.
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tco0102
Champion Author Charleston

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Message Posted: Dec 6, 2012 5:56:28 AM

just keep the prices low...
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chuckohio
Champion Author Columbus

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Message Posted: Dec 6, 2012 5:55:51 AM

Not too soon for me
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vamike
Champion Author Virginia

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Message Posted: Dec 6, 2012 5:55:11 AM

So could going into a depression.
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scottydoesnt
Champion Author Chicago

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Message Posted: Dec 6, 2012 5:53:27 AM

Up and down. Everyone seems to tell a different story.
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pfone1847
Champion Author Illinois

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Message Posted: Dec 6, 2012 5:53:16 AM

Let's see those lower prices.
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crmedic
Champion Author Arkansas

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Message Posted: Dec 6, 2012 5:50:57 AM

Yesterdays news.
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VetteFan
Champion Author Indiana

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Message Posted: Dec 6, 2012 5:50:57 AM

Looks like refineries have gotten back on line. Good news for consumers.
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JLSindy
Champion Author Cleveland

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Message Posted: Dec 6, 2012 5:49:52 AM

Gas prices not a supply and demand item - gas prices rising again here in NE OHIO.
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gabisgram
Champion Author Michigan

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Message Posted: Dec 6, 2012 5:49:00 AM

Well, it says that Michigan prices are on the rise this morning.....
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warlord1
Champion Author Georgia

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Message Posted: Dec 6, 2012 5:48:53 AM

I won't believe lower gas prices until we see it all Ive seen so far is alot of talk!!!!!!!!!!!!
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dudleydolittle
Champion Author Cleveland

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Message Posted: Dec 6, 2012 5:46:51 AM

and the problem is....
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ILVET
Champion Author Illinois

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Message Posted: Dec 6, 2012 5:46:26 AM

Price has nothing to do with supply or demand
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neptune2008
Champion Author Michigan

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Message Posted: Dec 6, 2012 5:45:45 AM

just in time for the price to INCREASE over 25 cents...???
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bigsranch
Champion Author Houston

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Message Posted: Dec 6, 2012 5:42:59 AM

Massive recession could push the prices lower, also.
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FMREALTOR
Champion Author Florida

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Message Posted: Dec 6, 2012 5:41:44 AM

Could?????
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TommyTraveler
Champion Author Cincinnati

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Message Posted: Dec 6, 2012 5:40:23 AM

We are getting hised by $1.50 per gallon. Thieves.
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dylan126
Champion Author Cleveland

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Message Posted: Dec 6, 2012 5:40:19 AM

very doubtful...
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Lengas
Champion Author Gary

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Message Posted: Dec 6, 2012 5:39:14 AM

Big Oil Manipilation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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rosyLI
Champion Author Long Island

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Message Posted: Dec 6, 2012 5:36:33 AM

Nice story if you believe the government and fairy tales.
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Rednix
Champion Author Miami

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Message Posted: Dec 6, 2012 5:34:21 AM

More oil in reserves than last year. Let's see lower prices.
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heysailor
Champion Author Pittsburgh

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Message Posted: Dec 6, 2012 5:33:05 AM

Old news
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AvantiMick
Champion Author Indiana

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Message Posted: Dec 6, 2012 5:28:52 AM

Quit talking about it and just do it!
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teamsimons
Champion Author South Carolina

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Message Posted: Dec 6, 2012 5:28:38 AM

Another set of inventories! What does it mean for gas prices? Unfortunately, not much.
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Foxt
Champion Author Minnesota

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Message Posted: Dec 6, 2012 5:28:08 AM

They'll have another twenty cent spike and then penny down the week before Christmas and everyone will go yeah, gas prices are coming down. Just like they did for Thanksgiving.
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Dailyrun
Champion Author Kentucky

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Message Posted: Dec 6, 2012 5:27:56 AM

good
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Bonanza
Champion Author Boston

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Message Posted: Dec 6, 2012 5:27:27 AM

Yesterday's news
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Chem60
Champion Author Tallahassee

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Message Posted: Dec 6, 2012 5:27:01 AM

I won't hold mine either!
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aburns20
Champion Author Virginia Beach

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Message Posted: Dec 6, 2012 5:27:01 AM

Not sure how much I believe this.
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