GasBuddy Blog

Message Forum - Read Message

Category: GasBuddy Official Blog > Topics	Add to favorite topics Post New Topic

Author	Topic: DOE report highlights	Post a Reply Back to Topics

PD Moderator	Message Posted: May 11, 2011 9:36:43 AM Ignore PD Report Abuse The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today. Here are some highlights: Crude oil inventories increased by 3.8 million barrels to a total of 370.3 million barrels. At 370.3 million barrels, inventories are 7.8 million barrels above last year (2.2%) and are above average. Supply at NYMEX delivery point, Cushing, Oklahoma rose 1.1 million barrels to 41.6 million barrels this week. Gasoline inventories increased 1.3 million barrels to 205.8 million barrels. At 205.8 million barrels, inventories are now 16.3 million barrels, or 7.3% lower than last year (last week that number was 9.1% lower). Regions posting gains in inventories last week... Visit GasBuddy Blog for full article

Moderator

Message Posted: May 11, 2011 9:36:43 AM

Ignore PD Report Abuse

The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

Crude oil inventories increased by 3.8 million barrels to a total of 370.3 million barrels. At 370.3 million barrels, inventories are 7.8 million barrels above last year (2.2%) and are above average. Supply at NYMEX delivery point, Cushing, Oklahoma rose 1.1 million barrels to 41.6 million barrels this week.

Gasoline inventories increased 1.3 million barrels to 205.8 million barrels. At 205.8 million barrels, inventories are now 16.3 million barrels, or 7.3% lower than last year (last week that number was 9.1% lower). Regions posting gains in inventories last week...

Visit GasBuddy Blog for full article

REPLIES (newest first)Ignore Short Messages

First

Next Last

Dekenel Rookie Author Minnesota Posts:63 Points:23,410 Joined:May 2011	Message Posted: May 17, 2011 4:41:16 PM Ignore Dekenel Report Abuse When the RBOB gas future price was at $3.44 gas was $3.99 and now that it has dropped to $2.94 gas is still $3.95. Prices at the pump follow the RBOB future hand in hand on the way up but on the way down it's a whole different story. Where is Obama's regulators to crack down on price gouging when you need them??
reb4 Champion Author Chicago Posts:19,361 Points:1,849,825 Joined:Sep 2004	Message Posted: May 16, 2011 8:47:00 AM Ignore reb4 Report Abuse shows that the price of gas is not being controlled by supply / demand...
leraar2 Champion Author Massachusetts Posts:3,904 Points:815,380 Joined:Mar 2011	Message Posted: May 12, 2011 1:12:47 AM Ignore leraar2 Report Abuse still waiting for prices to tumble. meanwhile buying as little gas as possible. also driving at 45 in a 65 zone; gas mileage went from 16.7mpg to 19.6mpg! find more and more cars following my example; travel lane becoming crowded.
NOTSOGRN Champion Author Michigan Posts:2,078 Points:1,536,705 Joined:Dec 2007	Message Posted: May 12, 2011 12:04:31 AM Ignore NOTSOGRN Report Abuse . . Blame Speedway not Obamno...OK both Speedway & Obamno.
RHNA1997 Veteran Author New Jersey Posts:299 Points:65,140 Joined:Mar 2011	Message Posted: May 11, 2011 11:58:25 PM Ignore RHNA1997 Report Abuse NOT SURPRISED.........
donnamarieb333 Veteran Author South Carolina Posts:397 Points:181,340 Joined:May 2011	Message Posted: May 11, 2011 11:56:57 PM Ignore donnamarieb333 Report Abuse and to think we were all crabbing when gas topped $3.00/gal... seems dreamy now
danreino Champion Author Twin Cities Posts:8,479 Points:1,565,485 Joined:Mar 2008	Message Posted: May 11, 2011 11:56:52 PM Ignore danreino Report Abuse Es ist zeit fur reich, wir museen die DOE ausrotten.
Matt G Champion Author Boston Posts:4,673 Points:2,800,740 Joined:Jun 2004	Message Posted: May 11, 2011 11:55:51 PM Ignore Matt G Report Abuse and so the price goes down!
52MPG Champion Author Dayton Posts:7,407 Points:1,770,380 Joined:Apr 2006	Message Posted: May 11, 2011 11:50:44 PM Ignore 52MPG Report Abuse Oil supplies are up. Refining has been down lowering the Gasoline inventories.
Z51Corvette Champion Author Austin Posts:8,613 Points:1,698,385 Joined:Jan 2008	Message Posted: May 11, 2011 11:50:30 PM Ignore Z51Corvette Report Abuse Blah, blah, blah... follqwed by Blah, blah, blah!
runinoutagas Champion Author San Bernardino Posts:10,678 Points:1,647,000 Joined:Oct 2008	Message Posted: May 11, 2011 11:47:05 PM Ignore runinoutagas Report Abuse The over-spending-driven inflated Dollar is diminishing the affordability of economy-expanding usage of energy. More so here than abroad where many other currencies are retaining value or losing less rapidly than the weakening Dollar. Resultant disuse leading to ab increased supply means that there is readily-available potential energy that is not being converted to work-accomplishing, need fulfilling, wealth-creating kinetic energy. Another facet of: ~~ “Malaise”.
LanguageMan1 Champion Author Tampa Posts:11,866 Points:1,689,490 Joined:Apr 2008	Message Posted: May 11, 2011 11:46:57 PM Ignore LanguageMan1 Report Abuse Good that oil and gasoline inventories are a bit higher.
ron98146 Champion Author Seattle Posts:1,650 Points:989,650 Joined:Jun 2008	Message Posted: May 11, 2011 11:42:35 PM Ignore ron98146 Report Abuse more numbers every week and we are waiting for the pump prices to start falling.
datapro Sophomore Author Spokane Posts:180 Points:410,495 Joined:Apr 2011	Message Posted: May 11, 2011 11:39:49 PM Ignore datapro Report Abuse Round and Round
REVLAW Champion Author San Antonio Posts:10,576 Points:2,034,945 Joined:Jul 2007	Message Posted: May 11, 2011 11:36:48 PM Ignore REVLAW Report Abuse Okay
SBlouch Champion Author San Antonio Posts:8,836 Points:1,885,285 Joined:Apr 2007	Message Posted: May 11, 2011 11:33:28 PM Ignore SBlouch Report Abuse Here we go again with a report we already know.
rasprout Champion Author Tacoma Posts:3,367 Points:1,244,810 Joined:Jun 2009	Message Posted: May 11, 2011 11:27:23 PM Ignore rasprout Report Abuse And increases were seen everywhere yet prices rise... Like that makes sense!
blueBMW480 Champion Author Nashville Posts:818,391 Points:868,440 Joined:Jan 2011	Message Posted: May 11, 2011 11:25:27 PM Ignore blueBMW480 Report Abuse ok....
MacDad614 Champion Author Atlanta Posts:3,084 Points:1,200,250 Joined:Aug 2008	Message Posted: May 11, 2011 11:23:45 PM Ignore MacDad614 Report Abuse BobD2009: phwtt! "Crude oil inventories increased by 3.8 million barrels to a total of 370.3 million barrels. At 370.3 million barrels, inventories are 7.8 million barrels above last year (2.2%) and are above average. Supply at NYMEX delivery point, Cushing, Oklahoma rose 1.1 million barrels to 41.6 million barrels this week. Gasoline inventories increased 1.3 million barrels to 205.8 million barrels. At 205.8 million barrels, inventories are now 16.3 million barrels, or 7.3% lower than last year (last week that number was 9.1% lower). Regions posting gains in inventories last week were the East Coast (+3.5mb), Midwest (+0.0mb), and the Rockies (+0.0mb). Decreases were seen on the Gulf Coast (-0.3mb) and the West Coast (-1.8mb)." So where is the supply-demand to which the spike in gasoline prices over the past 18 hours can be attributed? THERE ARE NONE! Our local Costco price is up 20¢ since Wednesday morning. [Edited by: MacDad614 at 5/12/2011 12:27:38 AM EST]
BobD2009 Champion Author Long Island Posts:7,134 Points:1,268,460 Joined:Apr 2009	Message Posted: May 11, 2011 11:15:54 PM Ignore BobD2009 Report Abuse More taxpayer funded waste.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: May 11, 2011 11:15:13 PM Ignore tedjm1 Report Abuse Same old.
TBONE3 Champion Author Pennsylvania Posts:8,886 Points:2,005,100 Joined:Mar 2005	Message Posted: May 11, 2011 11:14:47 PM Ignore TBONE3 Report Abuse Very interesting!!! This Blog points out the fact that we are bring robbed at the pump for no other reason than gouging the consumer.
2tone1 Champion Author Ontario Posts:4,478 Points:1,185,805 Joined:Dec 2009	Message Posted: May 11, 2011 11:12:46 PM Ignore 2tone1 Report Abuse Whether the reserves are up or down, and we'll never know the truth, the prices at the pump will keep going up as long as we are addicted to oil.
barbee23 Veteran Author Bakersfield Posts:329 Points:590,790 Joined:Apr 2011	Message Posted: May 11, 2011 11:09:57 PM Ignore barbee23 Report Abuse So...
Point__man Champion Author Raleigh Posts:4,477 Points:905,395 Joined:Oct 2010	Message Posted: May 11, 2011 11:09:14 PM Ignore Point__man Report Abuse Commodities markets took another dive today. Pray for lower gasoline prices ;) We tried everything else .......
unicornpmb Champion Author Buffalo Posts:8,631 Points:1,657,215 Joined:Sep 2005	Message Posted: May 11, 2011 11:08:36 PM Ignore unicornpmb Report Abuse And the price of gas stays the same.
zeddieiv Champion Author Columbia Posts:5,740 Points:1,504,905 Joined:Oct 2006	Message Posted: May 11, 2011 11:07:51 PM Ignore zeddieiv Report Abuse fun fun fun
umitb Champion Author Indianapolis Posts:3,829 Points:872,115 Joined:Apr 2010	Message Posted: May 11, 2011 11:06:23 PM Ignore umitb Report Abuse Ridiculous Ridiculous
mvosevich Champion Author St. Louis Posts:5,489 Points:1,115,410 Joined:Aug 2004	Message Posted: May 11, 2011 11:05:57 PM Ignore mvosevich Report Abuse zzzzzzzzzzzzzzzzz..............
goalie1950 Champion Author Phoenix Posts:6,550 Points:1,324,120 Joined:Oct 2009	Message Posted: May 11, 2011 11:05:28 PM Ignore goalie1950 Report Abuse All these numbers are just empty statistics. Gas prices should be falling and they are just leveling off for the moment.
kbierley Champion Author Dayton Posts:10,739 Points:1,417,820 Joined:Nov 2003	Message Posted: May 11, 2011 11:01:50 PM Ignore kbierley Report Abuse Get Government Out!
WinderGuy Champion Author Georgia Posts:2,970 Points:956,985 Joined:Mar 2008	Message Posted: May 11, 2011 10:55:11 PM Ignore WinderGuy Report Abuse ok
SammyAdams Champion Author Tallahassee Posts:3,201 Points:821,285 Joined:Nov 2010	Message Posted: May 11, 2011 10:50:57 PM Ignore SammyAdams Report Abuse Supply and demand DOES apply to this industry. The problem that we face, however, is that power has been given to the Federal government to interfere in the supply and demand of the market. It is axiomatic truth that the United States is sitting on some of the richest oil reserves found anywhere in the world. Why is it that our country is not allowed to drill for and refine this oil, yet it is perfectly okay to buy it from the middle east countries at ten times the price? If you were thinking that our government does not always do what's best for the citizenry, then you would be correct. The politicians who represent us are more concerned in what is best for the politicians (themselves) and there are lobbyists who are ready, willing, and able to offer bribes to them from the real "powers behind the throne". The OPEC is not doing anything that any other impoverished countries might do if placed in the same situation. When someone is forced to buy from just one source, you must pay more because the demand is high and the (available) supply is controlled by . . . . guess who? The price must go up. How is it that a country which is so rich in natural resources cannot seem to translate that into a finished product at an affordable price? That could be the question of the century. While you and I were busy eeking out a living and trusting our politicians to look after our interests, they were busy padding their own pockets and caving into a small group of eco extremists (Created by the Establishment) who told us that the sky was falling, that America was a greedy nation, and that we must adopt an austere and humble lifestyle. Now politicians are, of course, exempt from this adjustment because some people are more equal than others. Friends, we have the power to defeat this coterie of Insiders. They hope that you won't or at least think that it would be impossible to even try. Whatever it takes to keep you inactive until they can solidify their control. Would you spend 10 minutes to write a letter to your Congressional representative and both of your U.S. Senators? Tell them (respectfully) that you are wearied (It's okay to used more colorful language that is still respectful) from the high cost of gasoline and that you would like them to cosponsor (or at least support) legislation that would remove any impediment to drilling for and refining crude oil both on and off the U.S. continental shelf, even if it requires abolishing the EPA. Get to know your representatives very well. There are likely meetup groups in your community who get together monthly in order to discuss these things AND take action. If not, consider starting one. Another alternative, would be to take it easy while the Insiders have your family's chains forged. SA
regasaz Champion Author Phoenix Posts:5,779 Points:1,300,785 Joined:Dec 2006	Message Posted: May 11, 2011 10:48:35 PM Ignore regasaz Report Abuse Oil and gas inventories up............. prices seem to havestarted going down in the Valley.
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: May 11, 2011 10:47:43 PM Ignore mstearno Report Abuse love these guys they say about anything
Meowmy Champion Author Florida Posts:1,293 Points:354,505 Joined:Jan 2011	Message Posted: May 11, 2011 10:47:28 PM Ignore Meowmy Report Abuse Let's hurry up and process some of that glut!
r3d Sophomore Author Oklahoma City Posts:158 Points:263,015 Joined:Sep 2005	Message Posted: May 11, 2011 10:45:58 PM Ignore r3d Report Abuse cause greedy people suk
ARROWHEAD Veteran Author Detroit Posts:476 Points:1,222,910 Joined:Mar 2004	Message Posted: May 11, 2011 10:43:50 PM Ignore ARROWHEAD Report Abuse So why hasn't gas prices come down?
TXRanger09 Champion Author Dallas Posts:2,609 Points:914,010 Joined:May 2009	Message Posted: May 11, 2011 10:40:03 PM Ignore TXRanger09 Report Abuse Wish the DOE report included consumer demand.
firefly09 Champion Author San Diego Posts:2,618 Points:741,080 Joined:Mar 2009	Message Posted: May 11, 2011 10:36:03 PM Ignore firefly09 Report Abuse Seems we have heard this before. It does nothing, a lot of smoke.
Zonk Champion Author Michigan Posts:6,626 Points:2,130,690 Joined:Oct 2005	Message Posted: May 11, 2011 10:34:38 PM Ignore Zonk Report Abuse This report does nothing.
DrCashFlow Champion Author Massachusetts Posts:7,206 Points:1,654,950 Joined:Jun 2008	Message Posted: May 11, 2011 10:31:11 PM Ignore DrCashFlow Report Abuse Noise as usual
waynemustang Champion Author Indiana Posts:6,470 Points:1,691,235 Joined:Nov 2006	Message Posted: May 11, 2011 10:30:40 PM Ignore waynemustang Report Abuse We need to close worthless DOE.
cookie2119 Sophomore Author Fort Wayne Posts:129 Points:699,905 Joined:Oct 2010	Message Posted: May 11, 2011 10:26:44 PM Ignore cookie2119 Report Abuse Ridiculous
datapro Sophomore Author Spokane Posts:180 Points:410,495 Joined:Apr 2011	Message Posted: May 11, 2011 10:17:21 PM Ignore datapro Report Abuse Seems that none of these reports match up.
rjoeh Champion Author Michigan Posts:7,212 Points:2,497,540 Joined:Jun 2004	Message Posted: May 11, 2011 10:12:00 PM Ignore rjoeh Report Abuse Should mean gas prices are dropping, but specuators are still pushing on crude... and oil refiners are enjoying the chance to gouge as usual.
HawaiianGuy Champion Author Idaho Posts:9,665 Points:3,106,590 Joined:May 2003	Message Posted: May 11, 2011 10:09:56 PM Ignore HawaiianGuy Report Abuse And STILL prices continue to rise at the pump. Hey, Barack, it's the spending, stupid!
lowpet All-Star Author Texas Posts:527 Points:86,915 Joined:Dec 2008	Message Posted: May 11, 2011 10:08:45 PM Ignore lowpet Report Abuse this affects the American lifestyle how...?
gmcgas Champion Author Atlanta Posts:6,094 Points:1,741,870 Joined:Mar 2004	Message Posted: May 11, 2011 10:05:53 PM Ignore gmcgas Report Abuse DDDDDDDDDDDDDAAAAAAAAANNNNNNNNNGGGGGGGGG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
sudman65 Rookie Author Texas Posts:13 Points:38,335 Joined:Mar 2011	Message Posted: May 11, 2011 10:03:00 PM Ignore sudman65 Report Abuse Massive Mississippi River flooding may cause higher gas prices in the U.S.