Not Logged In Log In   Sign Up   Points Leaders
Follow Us    3:39 AM

GasBuddy News Article

34
votes
DOE reports gasoline inventories increase while refinery utilization slips

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 0.6 million barrels to a total of 371.1 million barrels. At 371.1 million barrels, inventories are 43.6 million barrels above last year (13.3%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories increased by 3.8 million barrels to 223.1 million barrels. At 223.1 million barrels, inventories are up 5.4 million barrels, or 2.5% higher than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+2.0mb); Midwest...


Read the Full Article

Submitted Dec 28, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: DOE reports gasoline inventories increase while refinery utilization slips Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
Jkent1953
Champion Author Salt Lake City

Posts:3,655
Points:771,955
Joined:Dec 2011
Message Posted: Jan 7, 2013 12:27:13 PM

It appears they are storing it up while it is cheap so they can sell it when the price goes up.
Profile Pic
mabrams184
Champion Author Lexington

Posts:3,230
Points:842,895
Joined:Aug 2011
Message Posted: Jan 3, 2013 9:37:30 PM

What happen to supply and demand?
Profile Pic
Dennisjk
Champion Author Detroit

Posts:7,796
Points:2,221,650
Joined:Apr 2006
Message Posted: Jan 1, 2013 7:42:38 PM

It's not keeping the prices from rising.
Profile Pic
joanne_abrahams
Rookie Author New York

Posts:73
Points:7,565
Joined:Aug 2012
Message Posted: Dec 31, 2012 11:10:24 AM

Happy New Year

Profile Pic
mst150
Champion Author Detroit

Posts:3,680
Points:491,230
Joined:Dec 2012
Message Posted: Dec 29, 2012 8:12:36 PM

Ok
Profile Pic
otherdave
Champion Author Indiana

Posts:5,073
Points:1,601,890
Joined:Oct 2008
Message Posted: Dec 29, 2012 6:53:59 AM

And prices rise.
Profile Pic
kobes1
Champion Author Florida

Posts:4,161
Points:888,955
Joined:Aug 2011
Message Posted: Dec 29, 2012 6:03:04 AM

Greed is everywhere
Profile Pic
Jamer
Champion Author Las Vegas

Posts:9,479
Points:1,772,910
Joined:Jul 2002
Message Posted: Dec 29, 2012 6:02:35 AM

GREED, GREED, and more GREED.
Profile Pic
scottydoesnt
Champion Author Chicago

Posts:4,552
Points:608,750
Joined:Apr 2011
Message Posted: Dec 29, 2012 6:01:38 AM

Apparently none of this matters, since gas is on the rise.
Profile Pic
fillerupyeoww
Champion Author Columbus

Posts:7,533
Points:1,981,685
Joined:Mar 2008
Message Posted: Dec 29, 2012 6:00:36 AM

None of this really means much at the pump.
Profile Pic
DrivingFool2
Champion Author Appleton

Posts:10,304
Points:1,934,465
Joined:Apr 2005
Message Posted: Dec 29, 2012 5:57:24 AM

Greed.
Profile Pic
SteveMartin
Champion Author New Orleans

Posts:5,946
Points:1,203,415
Joined:May 2008
Message Posted: Dec 29, 2012 5:55:15 AM

So does this mean gas prices will rise?
Profile Pic
us412
Champion Author Arkansas

Posts:25,386
Points:2,735,695
Joined:Apr 2006
Message Posted: Dec 29, 2012 5:48:54 AM

Fuel surplus increases along with price. WOW! But not in a good way.
Profile Pic
epf
Champion Author Grand Rapids

Posts:8,011
Points:2,222,600
Joined:May 2004
Message Posted: Dec 29, 2012 5:46:17 AM

All this is so mind boggling
Profile Pic
Beau2140
Champion Author New York

Posts:9,881
Points:1,975,135
Joined:Oct 2008
Message Posted: Dec 29, 2012 5:45:55 AM

Prices should be steady or going down. Here there is an increase in prices. Greed.........
Profile Pic
BEngr
Champion Author Illinois

Posts:8,428
Points:1,909,840
Joined:May 2008
Message Posted: Dec 29, 2012 5:43:28 AM

Thanks for the update. While there is a lot of good news, I am confused why we import and export the same product. It has to be because the refineries can made more money instead of putting the product into inventory.
Profile Pic
stpetebp
Champion Author Tampa

Posts:7,133
Points:2,028,795
Joined:Nov 2007
Message Posted: Dec 29, 2012 5:43:15 AM

Speculation mixed with nothing but greed
Profile Pic
bassakwards007
Champion Author Orange County

Posts:2,735
Points:574,415
Joined:Aug 2012
Message Posted: Dec 29, 2012 5:42:03 AM

greed
Profile Pic
twt
Champion Author Virginia Beach

Posts:11,385
Points:1,321,010
Joined:Mar 2005
Message Posted: Dec 29, 2012 5:40:01 AM

Just another example of our "Government" choking us, for another dollar.
Profile Pic
BigDogOH
Champion Author Cincinnati

Posts:10,178
Points:2,140,795
Joined:Mar 2008
Message Posted: Dec 29, 2012 5:24:48 AM

Just wait till new fed gas tax after 1st of year!
Profile Pic
pfone1847
Champion Author Illinois

Posts:4,851
Points:956,805
Joined:Oct 2010
Message Posted: Dec 29, 2012 5:22:11 AM

Why are the prices at the pumps going up then?
Profile Pic
Bill100
Champion Author Grand Rapids

Posts:44,163
Points:1,487,175
Joined:Jan 2010
Message Posted: Dec 29, 2012 5:19:32 AM

Rising inventories should drive prices down.
Profile Pic
FMREALTOR
Champion Author Florida

Posts:8,057
Points:2,028,455
Joined:Jan 2007
Message Posted: Dec 29, 2012 5:17:06 AM

Gasoline prices are rising sharply
Profile Pic
no_monkey2002
Champion Author Tallahassee

Posts:8,872
Points:2,166,670
Joined:Mar 2006
Message Posted: Dec 29, 2012 5:15:51 AM

energy information administration what good are you to the people..just a waste of time..another government job that we do not need
Profile Pic
roadrunnerMO
Champion Author Kansas

Posts:10,093
Points:2,034,640
Joined:Jul 2008
Message Posted: Dec 29, 2012 5:13:15 AM

A department of government that is a total waste of taxpayer dollars.
Profile Pic
ricebike
Champion Author New Jersey

Posts:11,563
Points:2,136,525
Joined:Oct 2005
Message Posted: Dec 29, 2012 5:12:57 AM

so does this means the prices will go DOWN?
Profile Pic
fratt
Champion Author Grand Rapids

Posts:11,480
Points:2,977,355
Joined:Jul 2005
Message Posted: Dec 29, 2012 5:06:43 AM

Playing games.
Profile Pic
DutchTreatMI
Champion Author Grand Rapids

Posts:4,775
Points:1,063,910
Joined:Mar 2011
Message Posted: Dec 29, 2012 5:04:49 AM

So gas prices should be coming down some again as we always have the big price jumps anytime prices go up.
Profile Pic
DutchTreatMI
Champion Author Grand Rapids

Posts:4,775
Points:1,063,910
Joined:Mar 2011
Message Posted: Dec 29, 2012 5:04:47 AM

So gas prices should be coming down some again as we always have the big price jumps anytime prices go up.
Profile Pic
singlemom27
Champion Author Ventura

Posts:4,758
Points:970,475
Joined:Apr 2011
Message Posted: Dec 29, 2012 5:04:16 AM

Which should signal price reductions...but it won't!
Profile Pic
SteelPenny
Champion Author Dallas

Posts:34,655
Points:2,936,940
Joined:Sep 2005
Message Posted: Dec 29, 2012 5:01:18 AM

Nobody can afford gasoline and even less affordable Jan 1 when Zero'BOY's taxes go up.
Profile Pic
chuckwthompson
Champion Author Charlotte

Posts:5,440
Points:910,160
Joined:Sep 2011
Message Posted: Dec 29, 2012 4:59:09 AM

Tomok squarely hit the nail on the head!
Profile Pic
mrjames1818
Champion Author New Jersey

Posts:3,220
Points:2,329,570
Joined:Mar 2004
Message Posted: Dec 29, 2012 4:50:32 AM

Gas Thirsty - Ditto
Profile Pic
vulcan96
Champion Author Ohio

Posts:27,181
Points:3,133,135
Joined:Aug 2004
Message Posted: Dec 29, 2012 4:49:36 AM

blah, blah, and more hot air
Profile Pic
Cableman66
Champion Author North Carolina

Posts:3,838
Points:822,950
Joined:May 2011
Message Posted: Dec 29, 2012 4:49:22 AM

Old news.
Profile Pic
danny999
Champion Author Florida

Posts:10,389
Points:1,972,810
Joined:Oct 2008
Message Posted: Dec 29, 2012 4:42:21 AM

Inventories up and so is Comex.Now 2.80/gal.That's pushing pump prices towards the 3.40-3.45 mark in Florida.
Profile Pic
bart_reed
Champion Author Los Angeles

Posts:5,648
Points:1,119,605
Joined:Mar 2011
Message Posted: Dec 29, 2012 4:37:26 AM

This doesn't touch the retail price.
Profile Pic
twobroke61
Champion Author Michigan

Posts:10,045
Points:1,920,435
Joined:Sep 2008
Message Posted: Dec 29, 2012 4:37:07 AM

good report keep it up
Profile Pic
tomok
Champion Author Portland

Posts:39,936
Points:2,678,485
Joined:Aug 2006
Message Posted: Dec 29, 2012 4:36:20 AM

DOE reports gasoline inventories increase while refinery utilization slips, lower refinery output to start driving the price of fuel up at the pump again?
Crude oil inventories decreased, Gasoline inventories increased, Distillate inventories increased, Refinery utilization decreased 1.2% from last week numbers, Total US oil stocks are up 5.7% over last year but there are still high fuel prices at the pump. The fuel prices at the pump should be lower to help the economy recover more!
Big Oil and Big Gas sells fuel and natural gas on the world market for higher prices to othwer countries. 'Coming out of the closet' Sneeky's lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the jobs are Not here. Sneeky's economy is not improving but continues to hurt the population and the job numbers continue to be down!
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 personal greedy benefit.
More Refineries are Not the answer, Stop exporting fuel is!
The price at the pump needs to go down to $2/gallon - *$3, *$3.50/gallon or *$4.00 is Not the new low!
Whatever the size or shape of the vehicle, vehicle manufactures Produce and the population ‘Drives’ 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!
XII/XXII/MMXII! - The Day After......
Profile Pic
RockCity
Champion Author Denver

Posts:9,707
Points:1,754,085
Joined:Mar 2009
Message Posted: Dec 29, 2012 4:29:14 AM

Very good report. Keep up the good work, perhaps.
Profile Pic
wegman
Champion Author Twin Cities

Posts:9,395
Points:2,415,625
Joined:Jun 2001
Message Posted: Dec 29, 2012 4:28:29 AM

Obamanomics = decreased demand because there will NOT be a recovery.

Election Day 2012 will teach painful lessons over the next four years.
Profile Pic
Foxt
Champion Author Minnesota

Posts:6,909
Points:2,348,800
Joined:Jul 2006
Message Posted: Dec 29, 2012 4:25:37 AM

Common this time of year.
Profile Pic
Double_Golden
Champion Author San Francisco

Posts:4,085
Points:924,510
Joined:Aug 2011
Message Posted: Dec 29, 2012 4:22:18 AM

ok...
Profile Pic
prorodeo2012
All-Star Author Bakersfield

Posts:559
Points:384,700
Joined:Sep 2012
Message Posted: Dec 29, 2012 4:07:46 AM

Odd
Profile Pic
bobdec
Champion Author Miami

Posts:10,481
Points:2,079,070
Joined:May 2008
Message Posted: Dec 29, 2012 4:02:32 AM

Not helping prices any
Profile Pic
tco9436
Champion Author Connecticut

Posts:2,488
Points:1,007,760
Joined:Mar 2010
Message Posted: Dec 29, 2012 4:00:44 AM

ok
Profile Pic
skanytank
Champion Author Kentucky

Posts:2,919
Points:892,100
Joined:Feb 2011
Message Posted: Dec 29, 2012 4:00:23 AM

Yeah, like that's gonna help prices any...just saying...
Profile Pic
12mpgnavigator
Champion Author Seattle

Posts:2,839
Points:674,510
Joined:Jun 2009
Message Posted: Dec 29, 2012 3:57:29 AM

Happy Holidays everyone!
Profile Pic
LanguageMan1
Champion Author Tampa

Posts:14,140
Points:1,994,765
Joined:Apr 2008
Message Posted: Dec 29, 2012 3:55:39 AM

Prices are still too high and will remain so.
Profile Pic
D4444J
Champion Author Albuquerque

Posts:3,478
Points:911,475
Joined:Aug 2011
Message Posted: Dec 29, 2012 3:55:20 AM

Keep on dropping
Post a reply Back to Topics