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EIA: Crude oil and gasoline inventories both decline

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 1.5 million barrels to a total of 374.5 million barrels. At 374.5 million barrels, inventories are 43.7 million barrels above last year (13.2%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.5 million barrels to 200.4 million barrels. At 200.4 million barrels, inventories are down 9.2 million barrels, or 4.4% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+1.0mb); Midwest...

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Submitted Nov 21, 2012 By: PD

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honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Nov 26, 2012 5:54:30 AM Ignore honda0105 Report Abuse benjy: or....?
benjy Champion Author Chicago Posts:8,591 Points:1,787,550 Joined:Nov 2003	Message Posted: Nov 25, 2012 10:14:33 AM Ignore benjy Report Abuse and?
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Nov 25, 2012 8:05:40 AM Ignore honda0105 Report Abuse yawn....
nsdp Champion Author San Antonio Posts:1,117 Points:47,290 Joined:Jun 2012	Message Posted: Nov 22, 2012 10:53:26 PM Ignore nsdp Report Abuse I never cease to be amazed. Exports of refined products are done 100% with foreign oil, Mexico and Trinidad and Tobago. Weekly changes are meaningless usually due to the timing of tanker unloading and loading. If you saw something like this for 4 or 5 weeks it MIGHT have some meaning. We are also at the time of year where refineries and terminals start to shuffle the deck to minimize property taxes. Product on ships at sea beyond the 12 mile limit don't count for property tax purposes. If you want to shut down export of refined products I think you should personally taxed for and pay the unemployment benefits for the OCAW workers on temporary layoff. If Mexico and Trinidad and Tobago can't refine their extra crude here they can send it to Cuba instead. You guys like Fidel that much? We can get you Hero of the 26th of July awards if you want. How about that Comrades? [Edited by: nsdp at 11/22/2012 10:57:19 PM EST]
rbrowdersr Champion Author Detroit Posts:5,718 Points:1,818,800 Joined:Aug 2006	Message Posted: Nov 22, 2012 10:53:29 AM Ignore rbrowdersr Report Abuse Sure they did.
DYSKYPILOT Champion Author Fort Worth Posts:2,897 Points:624,730 Joined:Mar 2006	Message Posted: Nov 22, 2012 5:10:56 AM Ignore DYSKYPILOT Report Abuse Put a tariff on exports. lower gas to $2.00.
mrjames1818 Champion Author New Jersey Posts:1,540 Points:1,997,120 Joined:Mar 2004	Message Posted: Nov 22, 2012 5:09:10 AM Ignore mrjames1818 Report Abuse Excuse for a holiday "bump"
Tiput Champion Author Ottawa Posts:1,980 Points:461,125 Joined:Jul 2011	Message Posted: Nov 22, 2012 5:04:39 AM Ignore Tiput Report Abuse ok
tomok Champion Author Portland Posts:32,983 Points:2,344,535 Joined:Aug 2006	Message Posted: Nov 22, 2012 5:02:02 AM Ignore tomok Report Abuse Crude oil inventories decreased, Gasoline inventories decreased, Distillate inventories decreased, Refinery utilization up 1.5% from last week numbers, Total US oil stocks are up 4.9% over last year. Crude oil inventories have decreased, Gasoline inventories decreased, US oil stocks increased 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 Refineries are Not the answer, stop exporting that fuel is! Are the fuel prices at the pump Not high enough already, restrict the production of fuel to raise those prices at the pump? Big Oil and Big Gas continues to sell fuel and natural gas on the world market for higher prices, there will be NO price reduction for the cost of fuel or natural gas IN the US. '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! People will still drive and buy fuel no matter what but it sure helps to have a job too! 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. 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!
Royski All-Star Author Los Angeles Posts:879 Points:179,850 Joined:Oct 2006	Message Posted: Nov 22, 2012 4:57:44 AM Ignore Royski Report Abuse Lots of inventory: now send some to California and the Jersey shore.
mossimo36 Champion Author St. Louis Posts:2,660 Points:495,875 Joined:Sep 2011	Message Posted: Nov 22, 2012 4:56:07 AM Ignore mossimo36 Report Abuse The prices spiked here and now they are down 14 cents in one day. Price gouging!
Bubba44612 Champion Author Ohio Posts:7,386 Points:1,875,880 Joined:Aug 2005	Message Posted: Nov 22, 2012 4:51:05 AM Ignore Bubba44612 Report Abuse Well with the price spike Tuesday around here I hope they drown in their gas and diesel.
wegman Champion Author Twin Cities Posts:7,804 Points:2,087,615 Joined:Jun 2001	Message Posted: Nov 22, 2012 4:50:11 AM Ignore wegman Report Abuse NOT particularly good news.
Brucevanf Champion Author New Brunswick Posts:1,351 Points:243,310 Joined:Aug 2012	Message Posted: Nov 22, 2012 4:46:31 AM Ignore Brucevanf Report Abuse Here comes some more gouging
scott121 Rookie Author Orange County Posts:49 Points:31,410 Joined:Nov 2012	Message Posted: Nov 22, 2012 4:43:42 AM Ignore scott121 Report Abuse time to get a prius lol
Bill100 Champion Author Grand Rapids Posts:41,482 Points:1,161,870 Joined:Jan 2010	Message Posted: Nov 22, 2012 4:43:34 AM Ignore Bill100 Report Abuse Up, up, and awayyyyy.... So sayeth the speculators.
mabrams184 Champion Author Lexington Posts:2,100 Points:533,060 Joined:Aug 2011	Message Posted: Nov 22, 2012 4:38:53 AM Ignore mabrams184 Report Abuse So gas prices should go up thirty more cents....right?
OldMan322 Champion Author Illinois Posts:5,150 Points:1,593,765 Joined:Jul 2008	Message Posted: Nov 22, 2012 4:37:57 AM Ignore OldMan322 Report Abuse "fratt" Where have you been, been rising for a week
TIGERPAW46 Champion Author Florida Posts:7,120 Points:1,353,810 Joined:Mar 2004	Message Posted: Nov 22, 2012 4:22:13 AM Ignore TIGERPAW46 Report Abuse Manipulation.
fratt Champion Author Grand Rapids Posts:9,820 Points:2,643,955 Joined:Jul 2005	Message Posted: Nov 22, 2012 4:16:17 AM Ignore fratt Report Abuse Prices will soon rise.
nomad228 Champion Author Columbus Posts:3,117 Points:575,140 Joined:Feb 2011	Message Posted: Nov 22, 2012 4:10:16 AM Ignore nomad228 Report Abuse sounds like our gov'ment is trying to casue a fuel shortage or give big earl another excuse to raise their prices agaain and again and again.
padlocks2 Champion Author Virginia Posts:3,062 Points:621,880 Joined:Aug 2006	Message Posted: Nov 22, 2012 4:08:51 AM Ignore padlocks2 Report Abuse So?
BEngr Champion Author Illinois Posts:6,706 Points:1,579,640 Joined:May 2008	Message Posted: Nov 22, 2012 4:04:52 AM Ignore BEngr Report Abuse Of the information, there were two parts that indicates we are moving in the wrong direction. Refinery utilization needs to increase in some areas and exports of finished petroleum products should not exceed imports.
HA4CNN Champion Author Toronto Posts:5,619 Points:1,542,415 Joined:Dec 2006	Message Posted: Nov 22, 2012 4:00:16 AM Ignore HA4CNN Report Abuse I guess that means fuel prices are going up.
truckpdlr Champion Author Tucson Posts:2,946 Points:1,095,160 Joined:Sep 2009	Message Posted: Nov 22, 2012 3:59:24 AM Ignore truckpdlr Report Abuse So are fuel prices
djgunrunner Champion Author Salt Lake City Posts:10,094 Points:2,347,630 Joined:Apr 2005	Message Posted: Nov 22, 2012 3:58:13 AM Ignore djgunrunner Report Abuse The gasoline inventories are down okay, now how much was exported?
bobdec Champion Author Miami Posts:8,959 Points:1,768,845 Joined:May 2008	Message Posted: Nov 22, 2012 3:57:32 AM Ignore bobdec Report Abuse I guess the prices will rise now
DJRIO Champion Author Miami Posts:8,040 Points:1,424,610 Joined:Jan 2008	Message Posted: Nov 22, 2012 3:56:57 AM Ignore DJRIO Report Abuse this first decrease in over a month it less than expected. it will increase the follwing week.
Bruno44 Champion Author Texas Posts:7,070 Points:1,767,220 Joined:Sep 2007	Message Posted: Nov 22, 2012 3:50:41 AM Ignore Bruno44 Report Abuse eia, epa etc should decline.
Settjec Champion Author Little Rock Posts:1,974 Points:686,770 Joined:May 2010	Message Posted: Nov 22, 2012 3:50:40 AM Ignore Settjec Report Abuse Decline, my south side
pappa2002 Rookie Author Missouri Posts:7 Points:10,640 Joined:Feb 2011	Message Posted: Nov 22, 2012 3:48:50 AM Ignore pappa2002 Report Abuse US Government is all for the money not the people
DrivingFool2 Champion Author Appleton Posts:8,582 Points:1,604,140 Joined:Apr 2005	Message Posted: Nov 22, 2012 3:48:02 AM Ignore DrivingFool2 Report Abuse It happens
Topless2012 Champion Author Twin Cities Posts:2,427 Points:480,090 Joined:Jan 2012	Message Posted: Nov 22, 2012 3:47:26 AM Ignore Topless2012 Report Abuse Can we please get a new story. This one is old.
edgrivera All-Star Author Indiana Posts:917 Points:339,900 Joined:Mar 2012	Message Posted: Nov 22, 2012 3:47:15 AM Ignore edgrivera Report Abuse garbage in...garbage out
gamalerin Champion Author Tampa Posts:4,747 Points:992,535 Joined:Jul 2010	Message Posted: Nov 22, 2012 3:43:30 AM Ignore gamalerin Report Abuse I don't like EIA.
Quick68 Champion Author Columbus Posts:8,218 Points:1,224,825 Joined:Dec 2009	Message Posted: Nov 22, 2012 3:42:57 AM Ignore Quick68 Report Abuse I don't trust The Energy Information Administration. All offices of the government are corrupt.
Lairre Champion Author Sacramento Posts:3,000 Points:186,185 Joined:Oct 2012	Message Posted: Nov 22, 2012 3:41:06 AM Ignore Lairre Report Abuse More crap from the EIA.
dudleydolittle Champion Author Cleveland Posts:4,425 Points:590,320 Joined:Sep 2011	Message Posted: Nov 22, 2012 3:37:30 AM Ignore dudleydolittle Report Abuse old
Ready Eddie Champion Author Twin Cities Posts:5,771 Points:1,342,770 Joined:Feb 2003	Message Posted: Nov 22, 2012 3:37:26 AM Ignore Ready Eddie Report Abuse This is an old story that is meaningless anyway.
computernut2008 Champion Author Ohio Posts:6,568 Points:1,349,390 Joined:Oct 2008	Message Posted: Nov 22, 2012 3:35:56 AM Ignore computernut2008 Report Abuse bs
Pozole Champion Author Portland Posts:9,591 Points:1,593,545 Joined:Mar 2005	Message Posted: Nov 22, 2012 3:33:10 AM Ignore Pozole Report Abuse ...pig oil exports to force higher prices on US...
dylan126 Champion Author Cleveland Posts:4,425 Points:594,145 Joined:Sep 2011	Message Posted: Nov 22, 2012 3:31:01 AM Ignore dylan126 Report Abuse OLD
UseLessGasFolks Champion Author Iowa Posts:5,441 Points:1,294,875 Joined:Jul 2007	Message Posted: Nov 22, 2012 3:28:46 AM Ignore UseLessGasFolks Report Abuse Conserve baby conserve!!!
lgwhitlock Champion Author Chico Posts:7,380 Points:1,684,520 Joined:Jun 2008	Message Posted: Nov 22, 2012 3:28:43 AM Ignore lgwhitlock Report Abuse Another week another government sponsored speculation report...
FogCitySpotter Champion Author San Francisco Posts:2,483 Points:521,200 Joined:Apr 2007	Message Posted: Nov 22, 2012 3:24:25 AM Ignore FogCitySpotter Report Abuse ok
livewire300 Champion Author South Carolina Posts:3,370 Points:166,260 Joined:Jun 2011	Message Posted: Nov 22, 2012 3:23:39 AM Ignore livewire300 Report Abuse Down Baby Down...
hybridaholic Champion Author Appleton Posts:8,360 Points:1,555,590 Joined:Dec 2008	Message Posted: Nov 22, 2012 3:21:04 AM Ignore hybridaholic Report Abuse Agree with you SBlouch!
R209 Champion Author California Posts:6,467 Points:240,620 Joined:Jul 2012	Message Posted: Nov 22, 2012 3:18:11 AM Ignore R209 Report Abuse The "EIA" is a joke...and so are the numbers they throw at us on a weekly bases.
SBlouch Champion Author San Antonio Posts:8,725 Points:1,858,290 Joined:Apr 2007	Message Posted: Nov 22, 2012 3:16:03 AM Ignore SBlouch Report Abuse Well, then we need to stop exporting crude oil which is the highest in years.
gaspumpin Champion Author Indiana Posts:1,663 Points:387,465 Joined:Apr 2012	Message Posted: Nov 22, 2012 3:16:00 AM Ignore gaspumpin Report Abuse Up, down, up, down. If our government would get it in gear, maybe prices would stabilize.