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EIA: Big crude increase as refineries continue to liquidate remaining winter gasoline

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 3.9 million barrels to a total of 369.0 million barrels. At 369.0 million barrels, inventories are 12.1 million barrels above last year (3.4%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 3.7 million barrels to 214.0 million barrels. At 214.0 million barrels, inventories are up 5.9 million barrels, or 2.8% more than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-2.3mb); Midwest...

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Submitted Apr 18, 2012 By: PD

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LuthierKS Champion Author Wichita Posts:3,902 Points:756,655 Joined:Apr 2011	Message Posted: Apr 19, 2012 9:02:50 AM Ignore LuthierKS Report Abuse We're seeing prices slowly decrease here in the Midwest.
2gjh Champion Author North Dakota Posts:3,174 Points:2,447,600 Joined:Nov 2003	Message Posted: Apr 19, 2012 9:02:35 AM Ignore 2gjh Report Abuse Speculators will interpret this to raise prices
HelenT Champion Author Buffalo Posts:3,089 Points:623,375 Joined:Apr 2004	Message Posted: Apr 19, 2012 9:01:48 AM Ignore HelenT Report Abuse ....
GassyKat Champion Author Wisconsin Posts:10,079 Points:2,069,170 Joined:Sep 2005	Message Posted: Apr 19, 2012 9:00:30 AM Ignore GassyKat Report Abuse Glad inventories are up. So pump prices are down then, huh?
Old Timer Champion Author Akron Posts:3,873 Points:1,289,515 Joined:Sep 2003	Message Posted: Apr 19, 2012 8:59:53 AM Ignore Old Timer Report Abuse If there was such a big inventoy of gas, why wasn't the pump price lower?
bart_reed Champion Author Los Angeles Posts:4,110 Points:812,355 Joined:Mar 2011	Message Posted: Apr 19, 2012 8:58:34 AM Ignore bart_reed Report Abuse This doesn't change retail prices.
maske_2222 Champion Author Manitoba Posts:7,422 Points:1,500,005 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:58:01 AM Ignore maske_2222 Report Abuse ok
snappytom2 Champion Author Corpus Christi Posts:3,634 Points:278,955 Joined:Jul 2008	Message Posted: Apr 19, 2012 8:57:51 AM Ignore snappytom2 Report Abuse So?
techque Champion Author St. Louis Posts:8,790 Points:2,444,405 Joined:Apr 2005	Message Posted: Apr 19, 2012 8:57:45 AM Ignore techque Report Abuse refiners posturing to jack prices blaming summer blends.
OSW Champion Author Pittsburgh Posts:6,987 Points:577,690 Joined:Aug 2011	Message Posted: Apr 19, 2012 8:57:32 AM Ignore OSW Report Abuse ok
Buck_on_Bass Champion Author Tennessee Posts:7,704 Points:1,480,985 Joined:Jul 2007	Message Posted: Apr 19, 2012 8:55:27 AM Ignore Buck_on_Bass Report Abuse The total petroleum stock being up over last year may suggest that the global economy may not be doing as well as some would have you believe.
herndonks Champion Author Baltimore Posts:1,116 Points:211,685 Joined:Dec 2011	Message Posted: Apr 19, 2012 8:54:56 AM Ignore herndonks Report Abuse An excess of crude, an excess of refined products, sky high prices, record profits for oil companies, and consumers are ripped off in the process. Why isn't marketplace competition bringing prices down? Is it more than the speculation that everyone is talking about? Is there illegal collusion in setting of prices?
Dale Jr. Champion Author Illinois Posts:16,364 Points:3,263,775 Joined:May 2004	Message Posted: Apr 19, 2012 8:54:41 AM Ignore Dale Jr. Report Abuse Yawn
Black Wagon Champion Author Illinois Posts:7,447 Points:1,828,745 Joined:Mar 2004	Message Posted: Apr 19, 2012 8:54:39 AM Ignore Black Wagon Report Abuse The Energy Information Administration, another taxpayer funded joke.
dad2two Champion Author Dallas Posts:3,649 Points:773,370 Joined:May 2010	Message Posted: Apr 19, 2012 8:54:37 AM Ignore dad2two Report Abuse Yep.
jayrad1957 Champion Author Los Angeles Posts:19,909 Points:1,624,215 Joined:Nov 2008	Message Posted: Apr 19, 2012 8:54:27 AM Ignore jayrad1957 Report Abuse What does this mean for prices?
colaguy Champion Author Columbia Posts:3,224 Points:1,020,760 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:53:17 AM Ignore colaguy Report Abuse ok
N5EXY Champion Author Austin Posts:5,632 Points:1,536,990 Joined:Jul 2004	Message Posted: Apr 19, 2012 8:52:36 AM Ignore N5EXY Report Abuse Hohum.
Diesel_Ram Champion Author Dallas Posts:6,634 Points:1,545,125 Joined:Jan 2009	Message Posted: Apr 19, 2012 8:52:01 AM Ignore Diesel_Ram Report Abuse I would figure that most of the Winter inventory would be about gone by now.
liao Champion Author Montreal Posts:3,574 Points:1,453,010 Joined:Sep 2008	Message Posted: Apr 19, 2012 8:52:00 AM Ignore liao Report Abuse Is the gasoline price going down yet? I am just dreaming.
ibhenry Champion Author San Diego Posts:1,536 Points:463,345 Joined:Jun 2011	Message Posted: Apr 19, 2012 8:50:37 AM Ignore ibhenry Report Abuse High inventory, high price of gas=greed.
knifeman9 Champion Author North Carolina Posts:5,815 Points:1,514,115 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:49:46 AM Ignore knifeman9 Report Abuse Well raise the price again thats how you do it more more more more more more
mitchells Champion Author Montreal Posts:3,966 Points:1,148,985 Joined:Oct 2009	Message Posted: Apr 19, 2012 8:49:26 AM Ignore mitchells Report Abuse Isn't this just normal seasonal stuff, every year at this time, they cut down inventories, to move out the last of the Winter gas, while performing regular seasonal maintenance before making summer gas.
OldMan322 Champion Author Illinois Posts:5,282 Points:1,621,905 Joined:Jul 2008	Message Posted: Apr 19, 2012 8:48:18 AM Ignore OldMan322 Report Abuse "JR57CA" YES !! and every other greedy person in the supply line
racerdj Champion Author Indianapolis Posts:9,945 Points:2,083,075 Joined:Jun 2003	Message Posted: Apr 19, 2012 8:47:12 AM Ignore racerdj Report Abuse We need more refineries now.
roundtrip100 Champion Author Fort Wayne Posts:2,138 Points:422,700 Joined:Apr 2012	Message Posted: Apr 19, 2012 8:46:21 AM Ignore roundtrip100 Report Abuse Open more refineries!
hwmillerster Champion Author Missouri Posts:6,924 Points:1,492,070 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:45:58 AM Ignore hwmillerster Report Abuse This change in inventories happens this time every year, the only difference is the mild winter.
momof5MN Champion Author Twin Cities Posts:4,189 Points:221,335 Joined:Feb 2011	Message Posted: Apr 19, 2012 8:45:09 AM Ignore momof5MN Report Abuse I keep hearing that prices are dropping. Not here!
BillHeatherL Champion Author Alberta Posts:7,782 Points:1,951,355 Joined:Apr 2007	Message Posted: Apr 19, 2012 8:43:49 AM Ignore BillHeatherL Report Abuse pump prices are still going up
Wizrd03 Champion Author Illinois Posts:8,288 Points:1,659,060 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:42:46 AM Ignore Wizrd03 Report Abuse Still won't help gas prices drop any faster
mberg Champion Author Houston Posts:3,943 Points:986,805 Joined:Aug 2010	Message Posted: Apr 19, 2012 8:42:14 AM Ignore mberg Report Abuse It's routine every spring.
12766 Champion Author New York Posts:2,584 Points:1,511,115 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:41:35 AM Ignore 12766 Report Abuse OK
mnorthwood13 Champion Author Michigan Posts:1,391 Points:773,055 Joined:Apr 2010	Message Posted: Apr 19, 2012 8:41:34 AM Ignore mnorthwood13 Report Abuse can't wait for them to count the summer blend, will totally fix this.
Jamer Champion Author Las Vegas Posts:8,897 Points:1,662,985 Joined:Jul 2002	Message Posted: Apr 19, 2012 8:41:05 AM Ignore Jamer Report Abuse Duh!!!
platinum16434 Veteran Author Houston Posts:289 Points:121,545 Joined:Sep 2008	Message Posted: Apr 19, 2012 8:40:43 AM Ignore platinum16434 Report Abuse old stuff.
paoli8 Champion Author Philadelphia Posts:7,181 Points:1,844,195 Joined:Jul 2007	Message Posted: Apr 19, 2012 8:40:36 AM Ignore paoli8 Report Abuse The reality is that we are no faring well at the pump
Amendes Champion Author Fresno Posts:2,647 Points:557,815 Joined:May 2011	Message Posted: Apr 19, 2012 8:40:33 AM Ignore Amendes Report Abuse OK
us30ride Champion Author Fort Wayne Posts:3,464 Points:739,340 Joined:Apr 2011	Message Posted: Apr 19, 2012 8:40:15 AM Ignore us30ride Report Abuse Of course gas inventories decerease, what with closing refineries and exporting, what else would anyone expect!
JR57CA All-Star Author Los Angeles Posts:793 Points:339,050 Joined:May 2011	Message Posted: Apr 19, 2012 8:39:51 AM Ignore JR57CA Report Abuse And when the "fire sale" is over, the prices will spike way high, yet, again. Thanks so much for nothing, Big Oil!!!!!!
BCM1 Champion Author Pennsylvania Posts:1,879 Points:786,420 Joined:Jun 2007	Message Posted: Apr 19, 2012 8:39:34 AM Ignore BCM1 Report Abuse They will probably raise the price of gas since they won't have enough summer blend available.
GoLancer4 Champion Author Ohio Posts:1,812 Points:453,540 Joined:Sep 2011	Message Posted: Apr 19, 2012 8:39:29 AM Ignore GoLancer4 Report Abuse no good
pricechecker08 Champion Author Ohio Posts:8,016 Points:1,728,400 Joined:Jan 2008	Message Posted: Apr 19, 2012 8:37:28 AM Ignore pricechecker08 Report Abuse The price of the blends keep adding on each year but never drop off when blends change.
tomok Champion Author Portland Posts:33,579 Points:2,372,235 Joined:Aug 2006	Message Posted: Apr 19, 2012 8:37:03 AM Ignore tomok Report Abuse Crude oil inventories increased, Gasoline inventories decreased, Distillate inventories decreased, Refinery utilization rise of about 0.8%, Total US oil stocks are up. Fuel demand is down and fuel prices at the pump are much higher. Big oil selling 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. Barry will support natural gas and oil production for sale on the world market to pay for his ‘spending gone wild’ addiction. 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 benefit. Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost, if possible! The price of fuel at the pump is too high! 12/22/2012!
MightyDude Champion Author Minnesota Posts:10,491 Points:2,675,470 Joined:Mar 2003	Message Posted: Apr 19, 2012 8:36:09 AM Ignore MightyDude Report Abuse this is almost funny
Hi1 Champion Author Ontario Posts:4,993 Points:1,752,270 Joined:Jun 2007	Message Posted: Apr 19, 2012 8:35:28 AM Ignore Hi1 Report Abuse Price are still climbing.
bikerchicklette Champion Author Washington Posts:5,889 Points:1,300,620 Joined:Sep 2005	Message Posted: Apr 19, 2012 8:35:20 AM Ignore bikerchicklette Report Abuse interesting
bikechuck Champion Author Indianapolis Posts:7,148 Points:2,089,845 Joined:Apr 2006	Message Posted: Apr 19, 2012 8:33:07 AM Ignore bikechuck Report Abuse Way too many 'mandated' blends of gasoline that increases the cost of refining. More government 'tinkering' resulting in increased prices for all of us, is the benefit worth it?
Bleeder Champion Author Virginia Posts:8,038 Points:1,717,725 Joined:Jan 2008	Message Posted: Apr 19, 2012 8:32:32 AM Ignore Bleeder Report Abuse Not surprising here with the prices as high as they are that inventories are on the rise.
preacherboyFL Veteran Author Orlando Posts:444 Points:125,860 Joined:Feb 2012	Message Posted: Apr 19, 2012 8:31:34 AM Ignore preacherboyFL Report Abuse Cast your cares on the LORD and he will sustain you; he will never let the righteous fall.
Legend1500 All-Star Author Midland Odessa Posts:964 Points:583,175 Joined:Jun 2011	Message Posted: Apr 19, 2012 8:31:26 AM Ignore Legend1500 Report Abuse K
mikesr11 Champion Author New York City Posts:3,637 Points:706,940 Joined:Mar 2011	Message Posted: Apr 19, 2012 8:31:25 AM Ignore mikesr11 Report Abuse I AGREE WITH traumer
BigZ1959 Champion Author Denver Posts:3,878 Points:1,486,875 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:31:16 AM Ignore BigZ1959 Report Abuse Up