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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

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Bearcat500 Champion Author Cincinnati Posts:9,726 Points:1,632,150 Joined:Nov 2005	Message Posted: Dec 16, 2012 11:09:13 AM Ignore Bearcat500 Report Abuse OK
CapriceWagon All-Star Author Washington Posts:939 Points:479,820 Joined:Feb 2008	Message Posted: Dec 13, 2012 5:09:30 PM Ignore CapriceWagon Report Abuse They're dropping ever so slightly in Washington, $3.22 I saw this morning
txrojo2005 All-Star Author Austin Posts:766 Points:479,630 Joined:May 2011	Message Posted: Dec 13, 2012 2:40:40 PM Ignore txrojo2005 Report Abuse Prices are dropping in Central Texas.
WanderDan All-Star Author Dayton Posts:591 Points:144,460 Joined:Nov 2012	Message Posted: Dec 13, 2012 12:36:49 PM Ignore WanderDan Report Abuse may drop a little-- just enough to keep us on the juice.
sjf238 Champion Author Philadelphia Posts:1,215 Points:647,955 Joined:Mar 2011	Message Posted: Dec 13, 2012 11:19:42 AM Ignore sjf238 Report Abuse OK.
Donatelo Champion Author Dayton Posts:1,124 Points:293,545 Joined:Apr 2011	Message Posted: Dec 11, 2012 10:50:05 AM Ignore Donatelo Report Abuse lower price always good
dockersbin Veteran Author Virginia Beach Posts:407 Points:260,385 Joined:May 2006	Message Posted: Dec 9, 2012 9:34:17 PM Ignore dockersbin Report Abuse better to have than to not
MinnesotaDJ Champion Author Minnesota Posts:4,752 Points:775,380 Joined:Feb 2010	Message Posted: Dec 9, 2012 5:51:34 PM Ignore MinnesotaDJ Report Abuse What about the refinery investigations from Sandy? Let's hear about that first!
hogrider12 Rookie Author Phoenix Posts:10 Points:470 Joined:Nov 2012	Message Posted: Dec 9, 2012 1:56:31 PM Ignore hogrider12 Report Abuse heres hoping
skidsteer85xt Champion Author Indiana Posts:3,654 Points:188,000 Joined:Oct 2012	Message Posted: Dec 7, 2012 9:38:32 AM Ignore skidsteer85xt Report Abuse THR MORE THE BETTER
Ray_10589 Champion Author New York Posts:4,951 Points:1,183,960 Joined:May 2009	Message Posted: Dec 7, 2012 1:01:19 AM Ignore Ray_10589 Report Abuse gas too high
skybiker Champion Author South Carolina Posts:7,297 Points:1,560,265 Joined:Jul 2008	Message Posted: Dec 6, 2012 11:56:56 PM Ignore skybiker Report Abuse Bout time,,,,
DanMtz Champion Author Oakland Posts:3,355 Points:1,243,325 Joined:Oct 2009	Message Posted: Dec 6, 2012 7:56:41 PM Ignore DanMtz Report Abuse ...unless, of course, there are other refinery "mishaps".
merlinCO Champion Author Colorado Posts:1,645 Points:342,370 Joined:Mar 2012	Message Posted: Dec 6, 2012 10:26:00 AM Ignore merlinCO Report Abuse ? Oh yeah the market is dictated by financial wizzards not supply and demand.
eschroth442 Champion Author Cleveland Posts:1,084 Points:333,720 Joined:Nov 2011	Message Posted: Dec 6, 2012 10:08:04 AM Ignore eschroth442 Report Abuse don't worry, something "{minor",sorry MAJOR will ahppen and the price to us will soar!!!
jetlagAK Champion Author Anchorage Posts:2,251 Points:635,675 Joined:Jan 2010	Message Posted: Dec 6, 2012 6:12:00 AM Ignore jetlagAK Report Abuse Yeah right.
RockCity Champion Author Denver Posts:7,916 Points:1,428,085 Joined:Mar 2009	Message Posted: Dec 6, 2012 6:06:17 AM Ignore RockCity Report Abuse My money is on the, could push prices higher side, perhaps.
fillerupyeoww Champion Author Columbus Posts:5,885 Points:1,650,415 Joined:Mar 2008	Message Posted: Dec 6, 2012 6:05:02 AM Ignore fillerupyeoww Report Abuse Shoulda woulda coulda.
isem Champion Author Missouri Posts:1,931 Points:424,160 Joined:Feb 2012	Message Posted: Dec 6, 2012 6:03:28 AM Ignore isem Report Abuse 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.
LeeFree Champion Author Pittsburgh Posts:9,156 Points:2,244,425 Joined:Jun 2005	Message Posted: Dec 6, 2012 6:03:07 AM Ignore LeeFree Report Abuse I keep waiting for that big price drop at the pump but it's holding firm at $3.59/gal in my area.
bassakwards007 Champion Author Orange County Posts:1,137 Points:245,195 Joined:Aug 2012	Message Posted: Dec 6, 2012 6:02:02 AM Ignore bassakwards007 Report Abuse Hope so
chuckwthompson Champion Author Charlotte Posts:3,755 Points:577,960 Joined:Sep 2011	Message Posted: Dec 6, 2012 6:01:46 AM Ignore chuckwthompson Report Abuse Heart be still!
Z06KY Champion Author Louisville Posts:5,150 Points:906,690 Joined:Nov 2010	Message Posted: Dec 6, 2012 5:56:33 AM Ignore Z06KY Report Abuse Outstanding but will it effect the pump is another thing.
tco0102 Champion Author Charleston Posts:7,404 Points:1,757,060 Joined:May 2007	Message Posted: Dec 6, 2012 5:56:28 AM Ignore tco0102 Report Abuse just keep the prices low...
chuckohio Champion Author Columbus Posts:1,263 Points:253,330 Joined:Aug 2012	Message Posted: Dec 6, 2012 5:55:51 AM Ignore chuckohio Report Abuse Not too soon for me
vamike Champion Author Virginia Posts:5,325 Points:1,364,950 Joined:Dec 2008	Message Posted: Dec 6, 2012 5:55:11 AM Ignore vamike Report Abuse So could going into a depression.
scottydoesnt Champion Author Chicago Posts:3,787 Points:528,945 Joined:Apr 2011	Message Posted: Dec 6, 2012 5:53:27 AM Ignore scottydoesnt Report Abuse Up and down. Everyone seems to tell a different story.
pfone1847 Champion Author Illinois Posts:3,191 Points:624,555 Joined:Oct 2010	Message Posted: Dec 6, 2012 5:53:16 AM Ignore pfone1847 Report Abuse Let's see those lower prices.
crmedic Champion Author Arkansas Posts:2,669 Points:224,150 Joined:Jul 2011	Message Posted: Dec 6, 2012 5:50:57 AM Ignore crmedic Report Abuse Yesterdays news.
VetteFan Champion Author Indiana Posts:9,744 Points:2,029,455 Joined:Aug 2005	Message Posted: Dec 6, 2012 5:50:57 AM Ignore VetteFan Report Abuse Looks like refineries have gotten back on line. Good news for consumers.
JLSindy Champion Author Cleveland Posts:3,491 Points:674,015 Joined:Aug 2005	Message Posted: Dec 6, 2012 5:49:52 AM Ignore JLSindy Report Abuse Gas prices not a supply and demand item - gas prices rising again here in NE OHIO.
gabisgram Champion Author Michigan Posts:2,201 Points:913,225 Joined:Sep 2006	Message Posted: Dec 6, 2012 5:49:00 AM Ignore gabisgram Report Abuse Well, it says that Michigan prices are on the rise this morning.....
warlord1 Champion Author Georgia Posts:5,250 Points:1,034,975 Joined:May 2010	Message Posted: Dec 6, 2012 5:48:53 AM Ignore warlord1 Report Abuse I won't believe lower gas prices until we see it all Ive seen so far is alot of talk!!!!!!!!!!!!
dudleydolittle Champion Author Cleveland Posts:4,430 Points:592,045 Joined:Sep 2011	Message Posted: Dec 6, 2012 5:46:51 AM Ignore dudleydolittle Report Abuse and the problem is....
ILVET Champion Author Illinois Posts:14,799 Points:2,926,590 Joined:Jan 2005	Message Posted: Dec 6, 2012 5:46:26 AM Ignore ILVET Report Abuse Price has nothing to do with supply or demand
neptune2008 Champion Author Michigan Posts:8,578 Points:1,670,700 Joined:Aug 2008	Message Posted: Dec 6, 2012 5:45:45 AM Ignore neptune2008 Report Abuse just in time for the price to INCREASE over 25 cents...???
bigsranch Champion Author Houston Posts:3,151 Points:1,006,455 Joined:Apr 2007	Message Posted: Dec 6, 2012 5:42:59 AM Ignore bigsranch Report Abuse Massive recession could push the prices lower, also.
FMREALTOR Champion Author Florida Posts:6,410 Points:1,697,980 Joined:Jan 2007	Message Posted: Dec 6, 2012 5:41:44 AM Ignore FMREALTOR Report Abuse Could?????
TommyTraveler Champion Author Cincinnati Posts:8,684 Points:1,699,280 Joined:Nov 2007	Message Posted: Dec 6, 2012 5:40:23 AM Ignore TommyTraveler Report Abuse We are getting hised by $1.50 per gallon. Thieves.
dylan126 Champion Author Cleveland Posts:4,430 Points:595,870 Joined:Sep 2011	Message Posted: Dec 6, 2012 5:40:19 AM Ignore dylan126 Report Abuse very doubtful...
Lengas Champion Author Gary Posts:13,555 Points:2,718,000 Joined:Nov 2004	Message Posted: Dec 6, 2012 5:39:14 AM Ignore Lengas Report Abuse Big Oil Manipilation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
rosyLI Champion Author Long Island Posts:5,640 Points:1,069,580 Joined:Apr 2010	Message Posted: Dec 6, 2012 5:36:33 AM Ignore rosyLI Report Abuse Nice story if you believe the government and fairy tales.
Rednix Champion Author Miami Posts:6,158 Points:1,276,485 Joined:Jul 2009	Message Posted: Dec 6, 2012 5:34:21 AM Ignore Rednix Report Abuse More oil in reserves than last year. Let's see lower prices.
heysailor Champion Author Pittsburgh Posts:9,587 Points:2,333,645 Joined:Mar 2006	Message Posted: Dec 6, 2012 5:33:05 AM Ignore heysailor Report Abuse Old news
AvantiMick Champion Author Indiana Posts:12,747 Points:2,543,520 Joined:Dec 2005	Message Posted: Dec 6, 2012 5:28:52 AM Ignore AvantiMick Report Abuse Quit talking about it and just do it!
teamsimons Champion Author South Carolina Posts:2,478 Points:502,645 Joined:Aug 2011	Message Posted: Dec 6, 2012 5:28:38 AM Ignore teamsimons Report Abuse Another set of inventories! What does it mean for gas prices? Unfortunately, not much.
Foxt Champion Author Minnesota Posts:5,265 Points:2,021,305 Joined:Jul 2006	Message Posted: Dec 6, 2012 5:28:08 AM Ignore Foxt Report Abuse 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.
Dailyrun Champion Author Kentucky Posts:1,982 Points:388,840 Joined:Apr 2012	Message Posted: Dec 6, 2012 5:27:56 AM Ignore Dailyrun Report Abuse good
Bonanza Champion Author Boston Posts:12,093 Points:2,551,980 Joined:Jun 2004	Message Posted: Dec 6, 2012 5:27:27 AM Ignore Bonanza Report Abuse Yesterday's news
Chem60 Champion Author Tallahassee Posts:3,825 Points:814,025 Joined:Oct 2010	Message Posted: Dec 6, 2012 5:27:01 AM Ignore Chem60 Report Abuse I won't hold mine either!