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GasBuddy News Article

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EIA: Big drop in gasoline inventories, massive build of crude

GasBuddy Blog -- The Energy Information Administration released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories increased by 7.1 million barrels to a total of 353.4 million barrels. At 353.4 million barrels, inventories are 2.3 million barrels below last year (-0.7%) and are in the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 3.5 million barrels to 223.4 million barrels. At 223.4 million barrels, inventories are up 6.3 million barrels, or 2.9% more than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-1.8mb); Midwest...


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Submitted Mar 28, 2012 By: PD
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Author Topic: EIA: Big drop in gasoline inventories, massive build of crude Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Apr 1, 2012 6:47:39 AM

and refineries have the capacity, but it's easier to drive the prices up and then refine more.
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albert2008
Champion Author Winnipeg

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Message Posted: Mar 31, 2012 7:49:13 AM

not good
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honda0105
Champion Author Tallahassee

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Message Posted: Mar 31, 2012 7:26:55 AM

gaw: specutraitors are able to work beyond the reach of American law so they can continue to further their greed.
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gawxnative
All-Star Author Atlanta

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Message Posted: Mar 30, 2012 5:51:45 AM

Inventories of both crude and gasoline higher than last year/ demand is lower so why the price???
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Mar 29, 2012 5:07:11 PM

Inventories are routinely overstated to try to keep inflation data lower than reality
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judgemobile
Champion Author Ohio

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Message Posted: Mar 29, 2012 4:44:38 PM

All this proves is:

1> figures lie, and

2> liars figure.
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sparky808
Champion Author Honolulu

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Message Posted: Mar 29, 2012 12:11:36 PM

Thank you for posting.
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DarthDadJr
Champion Author Virginia

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Message Posted: Mar 29, 2012 11:43:16 AM

I believe this drop in gas inventories is expected because this is time of year that refineries switch production to the Summer blends.
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Soglaos
Champion Author Virginia Beach

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Message Posted: Mar 29, 2012 11:35:48 AM

Hmmm with price so high fewer people buying and fewer traveling. I have cancelled by driving summer vacation
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mswillia
Champion Author Milwaukee

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Message Posted: Mar 29, 2012 10:47:16 AM

due to refineries closing for repair
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mickeymike
Champion Author Pennsylvania

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Message Posted: Mar 29, 2012 10:42:43 AM

refineries shut down, inventories decrease! Simple basic management! Why make it when people are not using it as much. We'll wait and when inventories get low, we'll start up our refineries again.And the price will keep going up!
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puinsai808
Champion Author Honolulu

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Message Posted: Mar 29, 2012 10:01:40 AM

We have a refining problem.
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Bachias
Rookie Author Washington

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Message Posted: Mar 29, 2012 9:56:27 AM

Basic economics and it has nothing to do with speculators. We as consumers control the price...You want to know why the price keeps going up? Its because we keep paying the price. Its time to stop paying the gas companies and finding our own alternatives to driving. Only by consumers decreasing consumption and demand will the prices begin to demising.
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alwaysridin88
Champion Author Ohio

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Message Posted: Mar 29, 2012 9:32:34 AM

So what does this all mean? Really nothing because the speculators are in control and will do what they want.
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esorsd
Champion Author St. Louis

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Message Posted: Mar 29, 2012 8:26:33 AM

No matter what happens...the price of gasoline will continue to increase...............
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bart_reed
Champion Author Los Angeles

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Message Posted: Mar 29, 2012 8:25:03 AM

Interesting data. Doesn't change retail prices.
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otherdave
Champion Author Indiana

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Message Posted: Mar 29, 2012 8:24:04 AM

More smoke and mirrors.
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CobraJ
Champion Author Tampa

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Message Posted: Mar 29, 2012 8:23:48 AM

Overall demand here in the U.S. is down and yet prices are still high even though there is surplus in inventory. Something is definitely not right.
Just abolish all oil speculators and we wouldn't have to worry about these ridiculously high prices.
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us30ride
Champion Author Fort Wayne

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Message Posted: Mar 29, 2012 8:23:18 AM

i don't care.......just get the prices down!!!
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Clits
All-Star Author Louisiana

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Message Posted: Mar 29, 2012 8:23:16 AM

well
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Wizrd03
Champion Author Illinois

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Message Posted: Mar 29, 2012 8:22:34 AM

More aimless statistics
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Sethyl
Champion Author Miami

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Message Posted: Mar 29, 2012 8:22:21 AM

Bad article. Prices were lower last year, when gas inventories were lower.
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mh44s
Champion Author Madison

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Message Posted: Mar 29, 2012 8:21:37 AM

Closing refineries causes the increase in crude oil but decrease in gasoline supply so gas prices go up.
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RetFireLT
Champion Author Kentucky

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Message Posted: Mar 29, 2012 8:20:49 AM

Ok.
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byoftDad
Champion Author Columbus

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Message Posted: Mar 29, 2012 8:19:32 AM

Another stupid report. It stands to reason that if they are closing down refineries that were running at full output to keep up then the gasoline inventory will decrease. This is just another excuse to get gasoline prices over $5 as I have been predicting.
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dlemma
Champion Author Wyoming

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Message Posted: Mar 29, 2012 8:18:33 AM

If the EPA can get out of private business, our country could thrive.
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Gasreaper2012
Champion Author Topeka

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Message Posted: Mar 29, 2012 8:17:27 AM

KU2008 is correct. Gasoline futures are at the highes for the year right now. Gasoline futures are up almost another four cents a gallon this morning.
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sdbaroon
Champion Author Scranton

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Message Posted: Mar 29, 2012 8:17:14 AM

Gas inventories are down from when (last week?) but up almost 3% over last year, and yet the price increases once again!
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plbell627
Champion Author Dayton

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Message Posted: Mar 29, 2012 8:17:09 AM


Having to much crude to refine into gas shouild bring prices down not up.
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eddyp94
Champion Author Ontario

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Message Posted: Mar 29, 2012 8:16:18 AM

But will this help lower oil prices...
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niceguytx
Champion Author Houston

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Message Posted: Mar 29, 2012 8:16:15 AM

The oil monopoly is controlling prices with refining capacity.
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Barfood
Champion Author St. Louis

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Message Posted: Mar 29, 2012 8:16:15 AM

Guess this explains the 30% increase in prices...NOT!
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GasholeMI
Champion Author Lansing

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Message Posted: Mar 29, 2012 8:15:55 AM

If Obama won't do anything, all of us should conserve and fill the reserve tanks to the brim. When the arriving crude comes in, it will have no where to go and prices must drop or storage fees kick in.
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mikerroy
Champion Author Albuquerque

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Message Posted: Mar 29, 2012 8:15:31 AM

OK
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gassy4u
Champion Author Mobile

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Message Posted: Mar 29, 2012 8:14:46 AM

The EIA, believable???
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nozzle46
Champion Author Little Rock

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Message Posted: Mar 29, 2012 8:14:20 AM

The EIA Petroleum This Week report is always a worthwhile read. Helps filter some of the hype and gives some good background info.
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putz247
Champion Author Ohio

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Message Posted: Mar 29, 2012 8:14:18 AM

mm hmm
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rippinusoff
Champion Author Lexington

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Message Posted: Mar 29, 2012 8:14:07 AM

cude up gas down...so is my wallet
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KU2008
Champion Author Nebraska

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Message Posted: Mar 29, 2012 8:13:42 AM

This was not a good report. Horrible. Gasoline futures are up another 3 1/2 cents a gallon today because of this gasoline inventories report.
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Mariuxus
Champion Author Chicago

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Message Posted: Mar 29, 2012 8:13:35 AM

Stop speculators and greed...
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TKAP
Champion Author North Carolina

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Message Posted: Mar 29, 2012 8:13:29 AM

this news is old
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40mpgsaturn
Champion Author Wisconsin

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Message Posted: Mar 29, 2012 8:13:25 AM

And nothing changes except the price at the pump!!
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TerrySawchuk
All-Star Author British Columbia

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Message Posted: Mar 29, 2012 8:12:28 AM

Sure.
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PrepHermit
Champion Author New Jersey

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Message Posted: Mar 29, 2012 8:11:45 AM

Makes perfect sense, doesn't it?
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belladog
Champion Author Mobile

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Message Posted: Mar 29, 2012 8:11:05 AM

sounds like the jones act again
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wildddkattt80
Champion Author Phoenix

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Message Posted: Mar 29, 2012 8:10:42 AM

This is what amazes me. At the same time, our gas prices keep going up?
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TBecker1415
Champion Author Missouri

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Message Posted: Mar 29, 2012 8:10:05 AM

Sounds like another excuse for higher pump prices.
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AAxterra
Champion Author Tennessee

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Message Posted: Mar 29, 2012 8:09:57 AM

ok
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checkum
Champion Author St. Louis

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Message Posted: Mar 29, 2012 8:09:22 AM

gee, I wonder why....could it be the refineries shutting down or they're not refining at full capacity or maybe the fact we are shipping refined gas to other countries?
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DaisysMomNC
All-Star Author North Carolina

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Message Posted: Mar 29, 2012 8:08:10 AM

Take care of the home front first - quit exporting so much.
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racerdj
Champion Author Indianapolis

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Message Posted: Mar 29, 2012 8:07:57 AM

Seems like the numbers are in contrast to each other.
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