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TBD

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 decreased by 0.8 million barrels to a total of 377.4 million barrels. At 377.4 million barrels, inventories are 25.7 million barrels above last year (7.3%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.8 million barrels to 205.9 million barrels. At 205.9 million barrels, inventories are down 6.5 million barrels, or 3.1% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-1.3mb); Midwest...

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Submitted Jul 18, 2012 By: PD

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timesaverinc Champion Author Wichita Posts:1,603 Points:321,115 Joined:Apr 2011	Message Posted: Jul 24, 2012 3:01:09 PM Ignore timesaverinc Report Abuse You have to have a job to be able to purchase it
GasPriceHelp4u Champion Author Dayton Posts:2,823 Points:595,525 Joined:Jul 2008	Message Posted: Jul 23, 2012 6:11:34 AM Ignore GasPriceHelp4u Report Abuse So the gas prices should come down, right?
honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Jul 21, 2012 6:09:31 AM Ignore honda0105 Report Abuse hardly anyone driving, why do we expect inventories to drop sharply when there's lower demand?
VanIsleLes All-Star Author British Columbia Posts:898 Points:294,545 Joined:Jun 2012	Message Posted: Jul 20, 2012 1:34:09 AM Ignore VanIsleLes Report Abuse Up and down they go
wshutton Champion Author Los Angeles Posts:1,805 Points:951,650 Joined:Mar 2009	Message Posted: Jul 19, 2012 10:32:27 PM Ignore wshutton Report Abuse K
bart_reed Champion Author Los Angeles Posts:4,110 Points:812,355 Joined:Mar 2011	Message Posted: Jul 19, 2012 9:24:09 AM Ignore bart_reed Report Abuse This doesn't change retail prices.
91Explorer All-Star Author Dallas Posts:634 Points:1,153,265 Joined:Oct 2009	Message Posted: Jul 19, 2012 9:05:43 AM Ignore 91Explorer Report Abuse crude & gasoline inventories down, prices up?
photobuddy Champion Author Washington Posts:1,620 Points:370,255 Joined:Feb 2012	Message Posted: Jul 19, 2012 8:33:44 AM Ignore photobuddy Report Abuse Yhe number you don't get is the amount of crude sitting off the shores in tankers. Their is still plenty of gas and they like you to think we have a shortage. Give us a break, we aren't that bad.
OldMan322 Champion Author Illinois Posts:5,282 Points:1,621,155 Joined:Jul 2008	Message Posted: Jul 19, 2012 8:24:04 AM Ignore OldMan322 Report Abuse Beware, numbers sometimes lie
jwalkerh Champion Author Louisiana Posts:6,197 Points:1,377,430 Joined:Oct 2008	Message Posted: Jul 19, 2012 7:53:05 AM Ignore jwalkerh Report Abuse Nothing new here...
WonderfulMI Champion Author Michigan Posts:11,797 Points:1,813,615 Joined:Jun 2008	Message Posted: Jul 19, 2012 5:22:00 AM Ignore WonderfulMI Report Abuse And gasoline prices still went up.
Jeffro61 Champion Author Cleveland Posts:2,403 Points:2,309,970 Joined:Oct 2005	Message Posted: Jul 19, 2012 5:11:16 AM Ignore Jeffro61 Report Abuse Report for speculators.
fillerupyeoww Champion Author Columbus Posts:6,009 Points:1,675,945 Joined:Mar 2008	Message Posted: Jul 19, 2012 5:10:57 AM Ignore fillerupyeoww Report Abuse The new normal.
quasar502 Champion Author Lansing Posts:3,718 Points:828,075 Joined:Jan 2011	Message Posted: Jul 19, 2012 5:06:03 AM Ignore quasar502 Report Abuse What counts is that there is enough in surplus to provide a steady flow to stations. Any other interpretation is just fuel for more speculation. The industry does an excellant job of keeping adequate reserves for which I am VERY GRATEFUL. I remember gas lines. No fun at all.
germainesr Champion Author Columbia Posts:1,266 Points:377,385 Joined:Sep 2008	Message Posted: Jul 19, 2012 5:03:14 AM Ignore germainesr Report Abuse Oil stats mean nothing. Companies with raise prices if too many people sneeze at one time
FNB1967 Champion Author Ontario Posts:1,967 Points:792,845 Joined:Jan 2011	Message Posted: Jul 19, 2012 5:02:58 AM Ignore FNB1967 Report Abuse Any report used to increase prices at the pumps
RADIOCANADA499 Champion Author Ontario Posts:2,473 Points:803,655 Joined:Aug 2005	Message Posted: Jul 19, 2012 5:02:53 AM Ignore RADIOCANADA499 Report Abuse ok
GLM4205 Champion Author Toledo Posts:4,182 Points:825,070 Joined:Dec 2010	Message Posted: Jul 19, 2012 5:02:24 AM Ignore GLM4205 Report Abuse I agree with tigerpaw46.
gudrench Champion Author Houston Posts:2,623 Points:529,990 Joined:Mar 2003	Message Posted: Jul 19, 2012 5:00:13 AM Ignore gudrench Report Abuse So....? Demand is increasing?
radstoy Champion Author Pennsylvania Posts:16,459 Points:3,220,705 Joined:Feb 2003	Message Posted: Jul 19, 2012 4:59:07 AM Ignore radstoy Report Abuse build the keystone and drill baby drill
TIGERPAW46 Champion Author Florida Posts:7,236 Points:1,378,645 Joined:Mar 2004	Message Posted: Jul 19, 2012 4:58:37 AM Ignore TIGERPAW46 Report Abuse They usually reduce supplies when they want to jack up the prices. The speculators hold back on selling the crude when they think they can hold out for higher prices. Inventories are very misleading like when they had ships siting off shore full of crude, or the well owners just reduce output to increase prices. They would have to pair Inventoriess with output the number of weeks or months prior, that would have placed the supplies into Inventoriess to show what was really happening. That along with purchases. ""IMPORTS/EXPORTS: The U.S. imported 919,000 barrels per day of gasoline and 91,000bpd of distillate fuels. However, during the same time frame, the U.S. exported 404,000bpd of gasoline and 1.1mbpd of distillates. In total, U.S. refineries exported 2.9 million barrels per day of oil and products. (These are four week rolling averages)"" Note we exported half as much gasoline as imported & more distillates ie Diesel than we imported both from all sources. What reasonable sense does that make. We pay to ship it in & pay to ship it out. it's got to be cheaper to use what you have at home. Stop allowing Export when we are importing the same products. Only allow export if it's over our usage.
golftellowcat Champion Author Ottawa Posts:2,584 Points:719,600 Joined:Apr 2010	Message Posted: Jul 19, 2012 4:58:26 AM Ignore golftellowcat Report Abuse ok
millerin Champion Author Orlando Posts:2,332 Points:487,315 Joined:Jan 2012	Message Posted: Jul 19, 2012 4:58:05 AM Ignore millerin Report Abuse hmm...
Redink Champion Author Indianapolis Posts:7,312 Points:1,321,025 Joined:Aug 2005	Message Posted: Jul 19, 2012 4:58:02 AM Ignore Redink Report Abuse Lower imports, less production. Attempts to raise prices.
w4kh Champion Author Tennessee Posts:11,805 Points:2,255,715 Joined:May 2004	Message Posted: Jul 19, 2012 4:55:53 AM Ignore w4kh Report Abuse Crude inventory change of - 0.21% is hardly newsworthy nor earthshaking... neither is a drop of only 0.8% in gasoline inventories... what it does is stir up fear and uncertainty and makes people accept increases in pump prices that are sure to follow.
lbrinkmn Champion Author Minnesota Posts:2,869 Points:1,863,465 Joined:Oct 2005	Message Posted: Jul 19, 2012 4:55:28 AM Ignore lbrinkmn Report Abuse ok
Quick68 Champion Author Columbus Posts:8,443 Points:1,252,525 Joined:Dec 2009	Message Posted: Jul 19, 2012 4:55:22 AM Ignore Quick68 Report Abuse I never believe any oil person.
hawkman1950 Champion Author Michigan Posts:2,768 Points:567,280 Joined:Aug 2010	Message Posted: Jul 19, 2012 4:54:06 AM Ignore hawkman1950 Report Abuse Then why is oil so "HIGH"
jeff95519 Champion Author California Posts:2,587 Points:1,380,965 Joined:Sep 2008	Message Posted: Jul 19, 2012 4:52:56 AM Ignore jeff95519 Report Abuse drill baby drill
swede Champion Author Cleveland Posts:3,897 Points:1,702,500 Joined:Feb 2003	Message Posted: Jul 19, 2012 4:52:51 AM Ignore swede Report Abuse It is to be expected at this time of the year with all the vacations that are being taken.
LeeFree Champion Author Pittsburgh Posts:9,286 Points:2,270,175 Joined:Jun 2005	Message Posted: Jul 19, 2012 4:52:51 AM Ignore LeeFree Report Abuse Afraid so Hunter724.
bababooey2 Champion Author Hartford Posts:6,483 Points:1,329,435 Joined:Sep 2009	Message Posted: Jul 19, 2012 4:52:48 AM Ignore bababooey2 Report Abuse Not good.
Hunter724 Champion Author New Hampshire Posts:8,252 Points:1,672,575 Joined:Sep 2008	Message Posted: Jul 19, 2012 4:50:57 AM Ignore Hunter724 Report Abuse Sounds like justification to raise prices....
ILVET Champion Author Illinois Posts:14,929 Points:2,952,190 Joined:Jan 2005	Message Posted: Jul 19, 2012 4:50:09 AM Ignore ILVET Report Abuse Time for another increase
checkum Champion Author St. Louis Posts:7,729 Points:1,499,715 Joined:Jan 2008	Message Posted: Jul 19, 2012 4:50:04 AM Ignore checkum Report Abuse what's the difference? gas goes up either way!
TommyTraveler Champion Author Cincinnati Posts:8,814 Points:1,725,030 Joined:Nov 2007	Message Posted: Jul 19, 2012 4:49:20 AM Ignore TommyTraveler Report Abuse as spiked here .21 the past few days.
pbug101 Champion Author Georgia Posts:2,581 Points:604,025 Joined:Aug 2011	Message Posted: Jul 19, 2012 4:48:19 AM Ignore pbug101 Report Abuse ok
AvantiMick Champion Author Indiana Posts:12,875 Points:2,569,230 Joined:Dec 2005	Message Posted: Jul 19, 2012 4:48:13 AM Ignore AvantiMick Report Abuse So, why did our gas spike 35 cents!???
1Boog Champion Author Lincoln Posts:6,101 Points:1,225,925 Joined:May 2004	Message Posted: Jul 19, 2012 4:48:09 AM Ignore 1Boog Report Abuse looks like another reason for making prices go higher!
SavingInNC Champion Author North Carolina Posts:5,924 Points:1,118,240 Joined:Oct 2006	Message Posted: Jul 19, 2012 4:46:59 AM Ignore SavingInNC Report Abuse Look out now
Bonanza Champion Author Boston Posts:12,248 Points:2,577,730 Joined:Jun 2004	Message Posted: Jul 19, 2012 4:46:01 AM Ignore Bonanza Report Abuse Yesterday's news
vamike Champion Author Virginia Posts:5,446 Points:1,391,000 Joined:Dec 2008	Message Posted: Jul 19, 2012 4:44:12 AM Ignore vamike Report Abuse No relationship to gas price trends.
kirzon484 Champion Author Atlanta Posts:2,001 Points:460,010 Joined:Jun 2011	Message Posted: Jul 19, 2012 4:42:27 AM Ignore kirzon484 Report Abuse ok
NJColt Champion Author New Jersey Posts:12,760 Points:2,669,260 Joined:Aug 2005	Message Posted: Jul 19, 2012 4:38:32 AM Ignore NJColt Report Abuse Still paying way too much
DblChek Champion Author San Antonio Posts:2,387 Points:625,135 Joined:Jul 2008	Message Posted: Jul 19, 2012 4:37:22 AM Ignore DblChek Report Abuse second.
megadiesellv Champion Author Atlanta Posts:1,474 Points:503,585 Joined:Sep 2011	Message Posted: Jul 19, 2012 4:35:29 AM Ignore megadiesellv Report Abuse Barley droped.
dondk Champion Author Pennsylvania Posts:1,354 Points:413,815 Joined:Mar 2011	Message Posted: Jul 19, 2012 4:34:48 AM Ignore dondk Report Abuse price hike underway!
BEngr Champion Author Illinois Posts:6,846 Points:1,606,740 Joined:May 2008	Message Posted: Jul 19, 2012 4:34:16 AM Ignore BEngr Report Abuse I wonder why we import what we export? That doesn't make good sense.
Foxt Champion Author Minnesota Posts:5,395 Points:2,047,055 Joined:Jul 2006	Message Posted: Jul 19, 2012 4:34:01 AM Ignore Foxt Report Abuse That must mean gas is going up today.
SUPERSTEVIEO Champion Author Quebec Posts:3,523 Points:787,115 Joined:Oct 2010	Message Posted: Jul 19, 2012 4:32:35 AM Ignore SUPERSTEVIEO Report Abuse so who is not converting oil to gas???