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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:9,732 Points:1,633,145 Joined:Nov 2005	Message Posted: Dec 16, 2012 8:09:13 AM Ignore Bearcat500 Report Abuse OK
CapriceWagon All-Star Author Washington Posts:949 Points:481,020 Joined:Feb 2008	Message Posted: Dec 13, 2012 2:09:30 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:768 Points:481,295 Joined:May 2011	Message Posted: Dec 13, 2012 11:40:40 AM Ignore txrojo2005 Report Abuse Prices are dropping in Central Texas.
WanderDan All-Star Author Dayton Posts:591 Points:145,360 Joined:Nov 2012	Message Posted: Dec 13, 2012 9:36:49 AM 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 8:19:42 AM Ignore sjf238 Report Abuse OK.
Donatelo Champion Author Dayton Posts:1,127 Points:294,405 Joined:Apr 2011	Message Posted: Dec 11, 2012 7:50:05 AM Ignore Donatelo Report Abuse lower price always good
dockersbin Veteran Author Virginia Beach Posts:407 Points:261,885 Joined:May 2006	Message Posted: Dec 9, 2012 6:34:17 PM Ignore dockersbin Report Abuse better to have than to not
MinnesotaDJ Champion Author Minnesota Posts:4,762 Points:776,435 Joined:Feb 2010	Message Posted: Dec 9, 2012 2:51:34 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 10:56:31 AM Ignore hogrider12 Report Abuse heres hoping
skidsteer85xt Champion Author Indiana Posts:3,667 Points:188,975 Joined:Oct 2012	Message Posted: Dec 7, 2012 6:38:32 AM Ignore skidsteer85xt Report Abuse THR MORE THE BETTER
Ray_10589 Champion Author New York Posts:4,956 Points:1,184,935 Joined:May 2009	Message Posted: Dec 6, 2012 10:01:19 PM Ignore Ray_10589 Report Abuse gas too high
skybiker Champion Author South Carolina Posts:7,308 Points:1,561,465 Joined:Jul 2008	Message Posted: Dec 6, 2012 8:56:56 PM Ignore skybiker Report Abuse Bout time,,,,
DanMtz Champion Author Oakland Posts:3,360 Points:1,244,300 Joined:Oct 2009	Message Posted: Dec 6, 2012 4:56:41 PM Ignore DanMtz Report Abuse ...unless, of course, there are other refinery "mishaps".
merlinCO Champion Author Colorado Posts:1,650 Points:343,345 Joined:Mar 2012	Message Posted: Dec 6, 2012 7:26:00 AM Ignore merlinCO Report Abuse ? Oh yeah the market is dictated by financial wizzards not supply and demand.
eschroth442 Champion Author Cleveland Posts:1,089 Points:334,695 Joined:Nov 2011	Message Posted: Dec 6, 2012 7:08:04 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 3:12:00 AM Ignore jetlagAK Report Abuse Yeah right.
RockCity Champion Author Denver Posts:7,921 Points:1,429,210 Joined:Mar 2009	Message Posted: Dec 6, 2012 3:06:17 AM Ignore RockCity Report Abuse My money is on the, could push prices higher side, perhaps.
fillerupyeoww Champion Author Columbus Posts:5,890 Points:1,651,390 Joined:Mar 2008	Message Posted: Dec 6, 2012 3:05:02 AM Ignore fillerupyeoww Report Abuse Shoulda woulda coulda.
isem Champion Author Missouri Posts:1,936 Points:425,135 Joined:Feb 2012	Message Posted: Dec 6, 2012 3:03:28 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:9,161 Points:2,245,400 Joined:Jun 2005	Message Posted: Dec 6, 2012 3:03:07 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:1,142 Points:246,170 Joined:Aug 2012	Message Posted: Dec 6, 2012 3:02:02 AM Ignore bassakwards007 Report Abuse Hope so
chuckwthompson Champion Author Charlotte Posts:3,765 Points:579,135 Joined:Sep 2011	Message Posted: Dec 6, 2012 3:01:46 AM Ignore chuckwthompson Report Abuse Heart be still!
Z06KY Champion Author Louisville Posts:5,155 Points:907,665 Joined:Nov 2010	Message Posted: Dec 6, 2012 2:56:33 AM Ignore Z06KY Report Abuse Outstanding but will it effect the pump is another thing.
tco0102 Champion Author Charleston Posts:7,409 Points:1,758,035 Joined:May 2007	Message Posted: Dec 6, 2012 2:56:28 AM Ignore tco0102 Report Abuse just keep the prices low...
chuckohio Champion Author Columbus Posts:1,268 Points:254,305 Joined:Aug 2012	Message Posted: Dec 6, 2012 2:55:51 AM Ignore chuckohio Report Abuse Not too soon for me
vamike Champion Author Virginia Posts:5,336 Points:1,366,900 Joined:Dec 2008	Message Posted: Dec 6, 2012 2:55:11 AM Ignore vamike Report Abuse So could going into a depression.
scottydoesnt Champion Author Chicago Posts:3,792 Points:529,770 Joined:Apr 2011	Message Posted: Dec 6, 2012 2:53:27 AM Ignore scottydoesnt Report Abuse Up and down. Everyone seems to tell a different story.
pfone1847 Champion Author Illinois Posts:3,196 Points:625,530 Joined:Oct 2010	Message Posted: Dec 6, 2012 2:53:16 AM Ignore pfone1847 Report Abuse Let's see those lower prices.
crmedic Champion Author Arkansas Posts:2,688 Points:225,350 Joined:Jul 2011	Message Posted: Dec 6, 2012 2:50:57 AM Ignore crmedic Report Abuse Yesterdays news.
VetteFan Champion Author Indiana Posts:9,749 Points:2,030,430 Joined:Aug 2005	Message Posted: Dec 6, 2012 2:50:57 AM Ignore VetteFan Report Abuse Looks like refineries have gotten back on line. Good news for consumers.
JLSindy Champion Author Cleveland Posts:3,496 Points:674,990 Joined:Aug 2005	Message Posted: Dec 6, 2012 2:49:52 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 2:49:00 AM Ignore gabisgram Report Abuse Well, it says that Michigan prices are on the rise this morning.....
warlord1 Champion Author Georgia Posts:5,255 Points:1,035,950 Joined:May 2010	Message Posted: Dec 6, 2012 2:48:53 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:4,440 Points:593,245 Joined:Sep 2011	Message Posted: Dec 6, 2012 2:46:51 AM Ignore dudleydolittle Report Abuse and the problem is....
ILVET Champion Author Illinois Posts:14,804 Points:2,927,565 Joined:Jan 2005	Message Posted: Dec 6, 2012 2:46:26 AM Ignore ILVET Report Abuse Price has nothing to do with supply or demand
neptune2008 Champion Author Michigan Posts:8,583 Points:1,671,675 Joined:Aug 2008	Message Posted: Dec 6, 2012 2:45:45 AM Ignore neptune2008 Report Abuse just in time for the price to INCREASE over 25 cents...???
bigsranch Champion Author Houston Posts:3,156 Points:1,007,430 Joined:Apr 2007	Message Posted: Dec 6, 2012 2:42:59 AM Ignore bigsranch Report Abuse Massive recession could push the prices lower, also.
FMREALTOR Champion Author Florida Posts:6,415 Points:1,698,955 Joined:Jan 2007	Message Posted: Dec 6, 2012 2:41:44 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 2:40:23 AM Ignore TommyTraveler Report Abuse We are getting hised by $1.50 per gallon. Thieves.
dylan126 Champion Author Cleveland Posts:4,440 Points:597,070 Joined:Sep 2011	Message Posted: Dec 6, 2012 2:40:19 AM Ignore dylan126 Report Abuse very doubtful...
Lengas Champion Author Gary Posts:13,561 Points:2,719,725 Joined:Nov 2004	Message Posted: Dec 6, 2012 2:39:14 AM Ignore Lengas Report Abuse Big Oil Manipilation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
rosyLI Champion Author Long Island Posts:5,645 Points:1,070,555 Joined:Apr 2010	Message Posted: Dec 6, 2012 2:36:33 AM Ignore rosyLI Report Abuse Nice story if you believe the government and fairy tales.
Rednix Champion Author Miami Posts:6,163 Points:1,277,460 Joined:Jul 2009	Message Posted: Dec 6, 2012 2:34:21 AM Ignore Rednix Report Abuse More oil in reserves than last year. Let's see lower prices.
heysailor Champion Author Pittsburgh Posts:9,592 Points:2,335,370 Joined:Mar 2006	Message Posted: Dec 6, 2012 2:33:05 AM Ignore heysailor Report Abuse Old news
AvantiMick Champion Author Indiana Posts:12,751 Points:2,544,475 Joined:Dec 2005	Message Posted: Dec 6, 2012 2:28:52 AM Ignore AvantiMick Report Abuse Quit talking about it and just do it!
teamsimons Champion Author South Carolina Posts:2,483 Points:504,070 Joined:Aug 2011	Message Posted: Dec 6, 2012 2:28:38 AM Ignore teamsimons Report Abuse Another set of inventories! What does it mean for gas prices? Unfortunately, not much.
Foxt Champion Author Minnesota Posts:5,270 Points:2,022,280 Joined:Jul 2006	Message Posted: Dec 6, 2012 2:28:08 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:1,992 Points:390,790 Joined:Apr 2012	Message Posted: Dec 6, 2012 2:27:56 AM Ignore Dailyrun Report Abuse good
Bonanza Champion Author Boston Posts:12,099 Points:2,552,955 Joined:Jun 2004	Message Posted: Dec 6, 2012 2:27:27 AM Ignore Bonanza Report Abuse Yesterday's news
Chem60 Champion Author Tallahassee Posts:3,832 Points:815,000 Joined:Oct 2010	Message Posted: Dec 6, 2012 2:27:01 AM Ignore Chem60 Report Abuse I won't hold mine either!