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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 9:09:13 AM Ignore Bearcat500 Report Abuse OK
CapriceWagon All-Star Author Washington Posts:949 Points:481,020 Joined:Feb 2008	Message Posted: Dec 13, 2012 3:09:30 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:770 Points:482,135 Joined:May 2011	Message Posted: Dec 13, 2012 12:40:40 PM 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 10:36:49 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 9:19:42 AM Ignore sjf238 Report Abuse OK.
Donatelo Champion Author Dayton Posts:1,129 Points:295,245 Joined:Apr 2011	Message Posted: Dec 11, 2012 8:50:05 AM Ignore Donatelo Report Abuse lower price always good
dockersbin Veteran Author Virginia Beach Posts:407 Points:262,635 Joined:May 2006	Message Posted: Dec 9, 2012 7:34:17 PM Ignore dockersbin Report Abuse better to have than to not
MinnesotaDJ Champion Author Minnesota Posts:4,767 Points:777,410 Joined:Feb 2010	Message Posted: Dec 9, 2012 3:51:34 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 11:56:31 AM Ignore hogrider12 Report Abuse heres hoping
skidsteer85xt Champion Author Indiana Posts:3,667 Points:189,850 Joined:Oct 2012	Message Posted: Dec 7, 2012 7:38:32 AM Ignore skidsteer85xt Report Abuse THR MORE THE BETTER
Ray_10589 Champion Author New York Posts:4,961 Points:1,185,910 Joined:May 2009	Message Posted: Dec 6, 2012 11:01:19 PM Ignore Ray_10589 Report Abuse gas too high
skybiker Champion Author South Carolina Posts:7,313 Points:1,562,440 Joined:Jul 2008	Message Posted: Dec 6, 2012 9:56:56 PM Ignore skybiker Report Abuse Bout time,,,,
DanMtz Champion Author Oakland Posts:3,370 Points:1,246,350 Joined:Oct 2009	Message Posted: Dec 6, 2012 5:56:41 PM Ignore DanMtz Report Abuse ...unless, of course, there are other refinery "mishaps".
merlinCO Champion Author Colorado Posts:1,655 Points:344,320 Joined:Mar 2012	Message Posted: Dec 6, 2012 8:26:00 AM Ignore merlinCO Report Abuse ? Oh yeah the market is dictated by financial wizzards not supply and demand.
eschroth442 Champion Author Cleveland Posts:1,094 Points:335,670 Joined:Nov 2011	Message Posted: Dec 6, 2012 8:08:04 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:636,425 Joined:Jan 2010	Message Posted: Dec 6, 2012 4:12:00 AM Ignore jetlagAK Report Abuse Yeah right.
RockCity Champion Author Denver Posts:7,926 Points:1,430,035 Joined:Mar 2009	Message Posted: Dec 6, 2012 4:06:17 AM Ignore RockCity Report Abuse My money is on the, could push prices higher side, perhaps.
fillerupyeoww Champion Author Columbus Posts:5,895 Points:1,652,365 Joined:Mar 2008	Message Posted: Dec 6, 2012 4:05:02 AM Ignore fillerupyeoww Report Abuse Shoulda woulda coulda.
isem Champion Author Missouri Posts:1,941 Points:426,110 Joined:Feb 2012	Message Posted: Dec 6, 2012 4:03:28 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:9,166 Points:2,246,375 Joined:Jun 2005	Message Posted: Dec 6, 2012 4:03:07 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:1,147 Points:247,145 Joined:Aug 2012	Message Posted: Dec 6, 2012 4:02:02 AM Ignore bassakwards007 Report Abuse Hope so
chuckwthompson Champion Author Charlotte Posts:3,770 Points:580,110 Joined:Sep 2011	Message Posted: Dec 6, 2012 4:01:46 AM Ignore chuckwthompson Report Abuse Heart be still!
Z06KY Champion Author Louisville Posts:5,161 Points:908,640 Joined:Nov 2010	Message Posted: Dec 6, 2012 3:56:33 AM Ignore Z06KY Report Abuse Outstanding but will it effect the pump is another thing.
tco0102 Champion Author Charleston Posts:7,414 Points:1,759,010 Joined:May 2007	Message Posted: Dec 6, 2012 3:56:28 AM Ignore tco0102 Report Abuse just keep the prices low...
chuckohio Champion Author Columbus Posts:1,271 Points:255,240 Joined:Aug 2012	Message Posted: Dec 6, 2012 3:55:51 AM Ignore chuckohio Report Abuse Not too soon for me
vamike Champion Author Virginia Posts:5,336 Points:1,367,650 Joined:Dec 2008	Message Posted: Dec 6, 2012 3:55:11 AM Ignore vamike Report Abuse So could going into a depression.
scottydoesnt Champion Author Chicago Posts:3,797 Points:529,995 Joined:Apr 2011	Message Posted: Dec 6, 2012 3:53:27 AM Ignore scottydoesnt Report Abuse Up and down. Everyone seems to tell a different story.
pfone1847 Champion Author Illinois Posts:3,201 Points:626,505 Joined:Oct 2010	Message Posted: Dec 6, 2012 3:53:16 AM Ignore pfone1847 Report Abuse Let's see those lower prices.
crmedic Champion Author Arkansas Posts:2,688 Points:225,950 Joined:Jul 2011	Message Posted: Dec 6, 2012 3:50:57 AM Ignore crmedic Report Abuse Yesterdays news.
VetteFan Champion Author Indiana Posts:9,754 Points:2,031,405 Joined:Aug 2005	Message Posted: Dec 6, 2012 3:50:57 AM Ignore VetteFan Report Abuse Looks like refineries have gotten back on line. Good news for consumers.
JLSindy Champion Author Cleveland Posts:3,501 Points:675,965 Joined:Aug 2005	Message Posted: Dec 6, 2012 3:49:52 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:2,206 Points:914,200 Joined:Sep 2006	Message Posted: Dec 6, 2012 3:49:00 AM Ignore gabisgram Report Abuse Well, it says that Michigan prices are on the rise this morning.....
warlord1 Champion Author Georgia Posts:5,260 Points:1,036,925 Joined:May 2010	Message Posted: Dec 6, 2012 3:48:53 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 3:46:51 AM Ignore dudleydolittle Report Abuse and the problem is....
ILVET Champion Author Illinois Posts:14,809 Points:2,928,540 Joined:Jan 2005	Message Posted: Dec 6, 2012 3:46:26 AM Ignore ILVET Report Abuse Price has nothing to do with supply or demand
neptune2008 Champion Author Michigan Posts:8,588 Points:1,672,650 Joined:Aug 2008	Message Posted: Dec 6, 2012 3:45:45 AM Ignore neptune2008 Report Abuse just in time for the price to INCREASE over 25 cents...???
bigsranch Champion Author Houston Posts:3,156 Points:1,008,180 Joined:Apr 2007	Message Posted: Dec 6, 2012 3:42:59 AM Ignore bigsranch Report Abuse Massive recession could push the prices lower, also.
FMREALTOR Champion Author Florida Posts:6,420 Points:1,699,930 Joined:Jan 2007	Message Posted: Dec 6, 2012 3:41:44 AM Ignore FMREALTOR Report Abuse Could?????
TommyTraveler Champion Author Cincinnati Posts:8,694 Points:1,701,230 Joined:Nov 2007	Message Posted: Dec 6, 2012 3:40:23 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 3:40:19 AM Ignore dylan126 Report Abuse very doubtful...
Lengas Champion Author Gary Posts:13,566 Points:2,720,700 Joined:Nov 2004	Message Posted: Dec 6, 2012 3:39:14 AM Ignore Lengas Report Abuse Big Oil Manipilation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
rosyLI Champion Author Long Island Posts:5,650 Points:1,071,530 Joined:Apr 2010	Message Posted: Dec 6, 2012 3:36:33 AM Ignore rosyLI Report Abuse Nice story if you believe the government and fairy tales.
Rednix Champion Author Miami Posts:6,173 Points:1,278,660 Joined:Jul 2009	Message Posted: Dec 6, 2012 3:34:21 AM Ignore Rednix Report Abuse More oil in reserves than last year. Let's see lower prices.
heysailor Champion Author Pittsburgh Posts:9,597 Points:2,335,595 Joined:Mar 2006	Message Posted: Dec 6, 2012 3:33:05 AM Ignore heysailor Report Abuse Old news
AvantiMick Champion Author Indiana Posts:12,756 Points:2,545,450 Joined:Dec 2005	Message Posted: Dec 6, 2012 3:28:52 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 3:28:38 AM Ignore teamsimons Report Abuse Another set of inventories! What does it mean for gas prices? Unfortunately, not much.
Foxt Champion Author Minnesota Posts:5,275 Points:2,023,255 Joined:Jul 2006	Message Posted: Dec 6, 2012 3:28:08 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 3:27:56 AM Ignore Dailyrun Report Abuse good
Bonanza Champion Author Boston Posts:12,099 Points:2,553,705 Joined:Jun 2004	Message Posted: Dec 6, 2012 3:27:27 AM Ignore Bonanza Report Abuse Yesterday's news
Chem60 Champion Author Tallahassee Posts:3,837 Points:815,975 Joined:Oct 2010	Message Posted: Dec 6, 2012 3:27:01 AM Ignore Chem60 Report Abuse I won't hold mine either!