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Crude stocks swell to levels not seen since last summer, gasoline inventories drop

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 increased by 4.1 million barrels to a total of 376.4 million barrels. At 376.4 million barrels, inventories are 35.7 million barrels above last year (10.5%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 2.9 million barrels to 230.4 million barrels. At 230.4 million barrels, inventories are down 1.2 million barrels, or 0.5% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-0.3mb); Midwest...

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Submitted Feb 21, 2013 By: PD

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honda0105 Champion Author Tallahassee Posts:18,590 Points:1,606,595 Joined:Nov 2008	Message Posted: Feb 24, 2013 5:02:30 AM Ignore honda0105 Report Abuse canuck: GB gods self promotion?
honda0105 Champion Author Tallahassee Posts:18,590 Points:1,606,595 Joined:Nov 2008	Message Posted: Feb 24, 2013 5:01:55 AM Ignore honda0105 Report Abuse N4: indeed.
N4PIP All-Star Author Miami Posts:884 Points:415,625 Joined:Jan 2012	Message Posted: Feb 22, 2013 2:31:41 PM Ignore N4PIP Report Abuse The refineries need to increase production. But, they won't in order to keep prices high.
Canucktree Champion Author Alberta Posts:4,881 Points:1,017,700 Joined:Dec 2008	Message Posted: Feb 22, 2013 8:14:42 AM Ignore Canucktree Report Abuse 62 Votes?!
rwg13 Rookie Author Colorado Springs Posts:2 Points:140 Joined:Feb 2013	Message Posted: Feb 22, 2013 7:22:46 AM Ignore rwg13 Report Abuse I people don't run red lights, then there would be no tickets. There was an intersection near my house with an average of 1 death a year over the last 15 years, caused by people running red lights. When teaching my son to drive, I took him to that intersection to show him that just because your light is green, do not assume you are safe.
Endoman5000 Veteran Author Michigan Posts:460 Points:347,750 Joined:Jan 2012	Message Posted: Feb 22, 2013 7:09:41 AM Ignore Endoman5000 Report Abuse Six ways to sunday
remay Champion Author Houston Posts:6,953 Points:2,114,690 Joined:May 2006	Message Posted: Feb 22, 2013 4:53:54 AM Ignore remay Report Abuse Makes no sense ... to us, the consumer...
djp071158 All-Star Author Detroit Posts:648 Points:289,750 Joined:May 2012	Message Posted: Feb 22, 2013 3:02:34 AM Ignore djp071158 Report Abuse Amazing. and there is nothing we can do about it.
pfone1847 Champion Author Illinois Posts:3,171 Points:620,655 Joined:Oct 2010	Message Posted: Feb 22, 2013 3:00:42 AM Ignore pfone1847 Report Abuse Greed Greed Greed
getchaz Veteran Author Tucson Posts:498 Points:183,365 Joined:Sep 2005	Message Posted: Feb 22, 2013 3:00:12 AM Ignore getchaz Report Abuse Gouging
Bus936 Champion Author Lexington Posts:16,429 Points:3,217,080 Joined:May 2004	Message Posted: Feb 22, 2013 2:59:00 AM Ignore Bus936 Report Abuse This means they are still gouging and stealing. We just had 3 stations to go up to$3.89 plus and the next day come down to $3.74 plus. This is outright gouging and I don't care what anyone says. They make millions extra when they just go up by one dime.
otherdave Champion Author Indiana Posts:3,378 Points:1,266,235 Joined:Oct 2008	Message Posted: Feb 22, 2013 2:55:58 AM Ignore otherdave Report Abuse And I just paid $3.66. This is just wrong.
biggiesize Champion Author Gary Posts:1,178 Points:1,258,425 Joined:Sep 2005	Message Posted: Feb 22, 2013 2:54:21 AM Ignore biggiesize Report Abuse OK
ovillaone All-Star Author Dallas Posts:770 Points:175,505 Joined:Nov 2012	Message Posted: Feb 22, 2013 2:52:20 AM Ignore ovillaone Report Abuse yawn
JCClark2012 Champion Author New Hampshire Posts:1,389 Points:392,970 Joined:Mar 2012	Message Posted: Feb 22, 2013 2:50:59 AM Ignore JCClark2012 Report Abuse Old news
1fulltank Champion Author Buffalo Posts:7,888 Points:1,541,385 Joined:Nov 2008	Message Posted: Feb 22, 2013 2:50:19 AM Ignore 1fulltank Report Abuse Inventories can drop because consumers are buying more or refineries are producing less.
jes Champion Author Pennsylvania Posts:16,150 Points:3,349,550 Joined:Jun 2003	Message Posted: Feb 22, 2013 2:48:38 AM Ignore jes Report Abuse Wonderful
fratt Champion Author Grand Rapids Posts:9,810 Points:2,642,005 Joined:Jul 2005	Message Posted: Feb 22, 2013 2:45:28 AM Ignore fratt Report Abuse Good news.
BigDogOH Champion Author Cincinnati Posts:8,488 Points:1,804,895 Joined:Mar 2008	Message Posted: Feb 22, 2013 2:38:54 AM Ignore BigDogOH Report Abuse Need EPA compliant refinery to refine oil
dbecks44 Champion Author Michigan Posts:1,327 Points:429,180 Joined:Jan 2012	Message Posted: Feb 22, 2013 2:34:29 AM Ignore dbecks44 Report Abuse Good news?
DblChek Champion Author San Antonio Posts:2,341 Points:613,390 Joined:Jul 2008	Message Posted: Feb 22, 2013 2:32:07 AM Ignore DblChek Report Abuse Drill Here. Refine Here. Sell Here. Employ Here.
VB_Richard Champion Author Virginia Beach Posts:1,643 Points:348,895 Joined:Dec 2011	Message Posted: Feb 22, 2013 2:31:40 AM Ignore VB_Richard Report Abuse What's wrong with this picture???
cheapertvs Champion Author Richmond Posts:10,269 Points:2,738,795 Joined:Jan 2004	Message Posted: Feb 22, 2013 2:31:15 AM Ignore cheapertvs Report Abuse Build refineries in the Dakotas and be done with it.
moregas1966 All-Star Author Columbus Posts:690 Points:136,630 Joined:Dec 2012	Message Posted: Feb 22, 2013 2:30:30 AM Ignore moregas1966 Report Abuse what is next
Standin Veteran Author Los Angeles Posts:305 Points:747,145 Joined:Jul 2009	Message Posted: Feb 22, 2013 2:30:18 AM Ignore Standin Report Abuse It's the old one-two...
csnvcas All-Star Author Illinois Posts:687 Points:164,990 Joined:Nov 2012	Message Posted: Feb 22, 2013 2:29:51 AM Ignore csnvcas Report Abuse Ok
tomok Champion Author Portland Posts:32,931 Points:2,342,585 Joined:Aug 2006	Message Posted: Feb 22, 2013 2:27:31 AM Ignore tomok Report Abuse Crude stocks swell to levels not seen since last summer, gasoline inventories drop and fuel prices at the pump continue to rise. Crude oil inventories increased, Gasoline inventories decreased, Distillate inventories decreased, Refinery utilization decreased 0.9% from last week, Total US oil stocks are up over last year but there are still high fuel prices at the pump. The fuel prices at the pump should be lower to help Sneeky's very bad crappy economy recover just a little bit faster! Big Oil and Big Gas sells fuel and natural gas on the world market for higher prices. '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! No Thanks to the Mindless Pinhead Sheep that voted this bozo 'Sneeky' back in office. The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - $3, $3.50/gallon or *$4.00 is Not the new low! More Refineries are Not the answer, Stop exporting fuel! Take care of the domestic fuel market first and above all else! Drive 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!
prorodeo2012 All-Star Author Bakersfield Posts:528 Points:180,845 Joined:Sep 2012	Message Posted: Feb 22, 2013 2:21:08 AM Ignore prorodeo2012 Report Abuse hopefully prices drop
oweno1 All-Star Author San Diego Posts:558 Points:111,415 Joined:Nov 2012	Message Posted: Feb 22, 2013 2:19:18 AM Ignore oweno1 Report Abuse sounds like gas prices should be deopping
yeehaw1073 Champion Author Indiana Posts:2,341 Points:1,847,275 Joined:May 2004	Message Posted: Feb 22, 2013 2:17:48 AM Ignore yeehaw1073 Report Abuse and gas prices keep going up?
pepinoNC Champion Author Raleigh Posts:2,138 Points:655,865 Joined:May 2011	Message Posted: Feb 22, 2013 2:17:05 AM Ignore pepinoNC Report Abuse Capitalism at its finest.
joko0 Champion Author New Jersey Posts:1,950 Points:561,915 Joined:Oct 2008	Message Posted: Feb 22, 2013 2:15:03 AM Ignore joko0 Report Abuse Where is the concept of supply and demand???
SteelPenny Champion Author Dallas Posts:30,921 Points:2,604,565 Joined:Sep 2005	Message Posted: Feb 22, 2013 2:11:14 AM Ignore SteelPenny Report Abuse We can't afford to buy it. No jobs.
wkb03 Champion Author Georgia Posts:1,945 Points:590,125 Joined:Aug 2011	Message Posted: Feb 22, 2013 2:08:04 AM Ignore wkb03 Report Abuse Just a report by the oil comp.
TravelinMan52 Champion Author Augusta Posts:1,910 Points:960,720 Joined:May 2008	Message Posted: Feb 22, 2013 2:07:13 AM Ignore TravelinMan52 Report Abuse Press on regardless, the pump prices continue to spiral...
djgunrunner Champion Author Salt Lake City Posts:10,082 Points:2,345,680 Joined:Apr 2005	Message Posted: Feb 22, 2013 2:04:47 AM Ignore djgunrunner Report Abuse That is reported Gasoline inventories.
Topless2012 Champion Author Twin Cities Posts:2,417 Points:478,140 Joined:Jan 2012	Message Posted: Feb 22, 2013 2:04:44 AM Ignore Topless2012 Report Abuse day old will the price go down?
mrjames1818 Champion Author New Jersey Posts:1,530 Points:1,995,170 Joined:Mar 2004	Message Posted: Feb 22, 2013 1:59:52 AM Ignore mrjames1818 Report Abuse Well what the h-ll do you expect when you artificially drive gas prices by speculation - people stop buying and that creates a glut that causes the prices to drop and causes the speculators to get burned and causes them to run to congress to help bail them out.
Ready Eddie Champion Author Twin Cities Posts:5,761 Points:1,340,820 Joined:Feb 2003	Message Posted: Feb 22, 2013 1:58:56 AM Ignore Ready Eddie Report Abuse Quit wasting time and start up the process.
Pozole Champion Author Portland Posts:9,578 Points:1,591,595 Joined:Mar 2005	Message Posted: Feb 22, 2013 1:54:33 AM Ignore Pozole Report Abuse ...pig oil has the world wrapped around it's finger...
jci25946 Champion Author Tampa Posts:3,251 Points:936,865 Joined:Jan 2006	Message Posted: Feb 22, 2013 1:53:15 AM Ignore jci25946 Report Abuse Greed driven prices!!!
DrivingFool2 Champion Author Appleton Posts:8,572 Points:1,602,190 Joined:Apr 2005	Message Posted: Feb 22, 2013 1:53:10 AM Ignore DrivingFool2 Report Abuse And so the world turns---------------
Bruno44 Champion Author Texas Posts:7,060 Points:1,765,270 Joined:Sep 2007	Message Posted: Feb 22, 2013 1:52:51 AM Ignore Bruno44 Report Abuse Good point by lgwhitlock
wegman Champion Author Twin Cities Posts:7,794 Points:2,085,665 Joined:Jun 2001	Message Posted: Feb 22, 2013 1:50:45 AM Ignore wegman Report Abuse Probably the regulatory state screwing things up again.
WGW1 Champion Author British Columbia Posts:1,232 Points:387,290 Joined:Jun 2010	Message Posted: Feb 22, 2013 1:47:57 AM Ignore WGW1 Report Abuse Greed will try to rule. It may win the day but not the week.
SteveMartin Champion Author New Orleans Posts:4,413 Points:882,490 Joined:May 2008	Message Posted: Feb 22, 2013 1:41:44 AM Ignore SteveMartin Report Abuse obama wants high gas prices.
EVBuddy Champion Author Nevada Posts:16,675 Points:3,028,670 Joined:Sep 2004	Message Posted: Feb 22, 2013 1:38:34 AM Ignore EVBuddy Report Abuse High prices will stop that gasoline inventory drop
lgwhitlock Champion Author Chico Posts:7,370 Points:1,682,570 Joined:Jun 2008	Message Posted: Feb 22, 2013 1:36:49 AM Ignore lgwhitlock Report Abuse Another week another government sponsored speculation report...
neofinoy Sophomore Author Long Island Posts:182 Points:55,260 Joined:Dec 2012	Message Posted: Feb 22, 2013 1:34:25 AM Ignore neofinoy Report Abuse sigh
jcurley Champion Author California Posts:7,881 Points:1,772,120 Joined:Dec 2007	Message Posted: Feb 22, 2013 1:28:50 AM Ignore jcurley Report Abuse One major detail that GOP talking heads like to forget (like Sean Hannity today), is that we can give all the drilling permits we want to the oil companies, but if they don't see a high enough price for oil, so that they can make a good ROI, they're not going to drill. So when they blame Obama for high gas prices, because we don't drill here enough, they're just talking malarkey!