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EIA: Second straight week featuring large gasoline build

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 increased by 0.8 million barrels to a total of 372.6 million barrels. At 372.6 million barrels, inventories are 38.5 million barrels above last year (11.5%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories increased by 5.0 million barrels to 212.1 million barrels. At 217.1 million barrels, inventories are down 1.7 million barrels, or 0.8% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+1.7mb); Midwest...

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Submitted Dec 12, 2012 By: PD

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honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Dec 15, 2012 4:55:12 AM Ignore honda0105 Report Abuse wang: anything to do w/ Pig Oil inventories and prices does not follow supply & demand. If it were, we'd have prices at the pump in the 1.50 range.
wang91554 Champion Author San Jose Posts:3,310 Points:1,229,585 Joined:May 2009	Message Posted: Dec 13, 2012 9:19:52 AM Ignore wang91554 Report Abuse supply and demand at work...
paulp24 Champion Author Harrisburg Posts:4,681 Points:849,800 Joined:Dec 2010	Message Posted: Dec 13, 2012 7:00:20 AM Ignore paulp24 Report Abuse Lets see what happens to retail.
85XJ Champion Author Toledo Posts:5,739 Points:1,305,745 Joined:Mar 2005	Message Posted: Dec 13, 2012 5:29:19 AM Ignore 85XJ Report Abuse Look at this article also here on GasBuddy: U.S. Refiners May Cut Gasoline Output on ‘Poor’ Sales, JBC Says Now tell me the oil companies don't manipulate their inventories and supplies. Nice to see the East Coast refineries are getting back on track.
bell05 Champion Author Atlanta Posts:9,406 Points:1,903,560 Joined:Jun 2005	Message Posted: Dec 13, 2012 4:59:40 AM Ignore bell05 Report Abuse My favorite worthless report.
matthwbar Champion Author Toledo Posts:4,203 Points:1,045,505 Joined:Jun 2007	Message Posted: Dec 13, 2012 4:07:01 AM Ignore matthwbar Report Abuse Interesting...
RUNNINONEMPTYFL Champion Author Florida Posts:1,408 Points:461,800 Joined:May 2011	Message Posted: Dec 13, 2012 4:04:20 AM Ignore RUNNINONEMPTYFL Report Abuse Here we go again...
gougenator Champion Author Dallas Posts:30,048 Points:3,271,875 Joined:Aug 2003	Message Posted: Dec 13, 2012 3:43:11 AM Ignore gougenator Report Abuse welllll they lowered gas prices for a REASON ,,or else it would be business as usual (going up right after the election and MANY ppl driving now,,demand is demand :)))
jeskibuff Champion Author Tampa Posts:8,041 Points:1,476,000 Joined:May 2004	Message Posted: Dec 13, 2012 3:38:02 AM Ignore jeskibuff Report Abuse Jeffro61 said: "Prices will force us into another recession." It wasn't high gas prices that got us in the recession in the first place - it was the manipulation of the housing finance industry by Democrats. What WILL get us into another recession is higher taxes and continued reckless spending by the Obozo administration...you know, the same administration that promised us "Recovery Summer" a couple of years ago but delivered squat. They clearly don't have any idea what makes for a vibrant economy, so we're really screwed for the next 4 years.
rick_evans Champion Author Boston Posts:3,862 Points:1,058,800 Joined:Aug 2005	Message Posted: Dec 13, 2012 3:35:35 AM Ignore rick_evans Report Abuse oil-k
Jayburt All-Star Author Toledo Posts:598 Points:143,175 Joined:Jun 2009	Message Posted: Dec 13, 2012 3:34:53 AM Ignore Jayburt Report Abuse Prices should be in the low $2 range or lower but they are not done making mega money off us yet. Add in the fact that state governments are taxing gas more and more as a unseen 'tax' and we the people get screwed once again..
pitamon Champion Author Philadelphia Posts:4,997 Points:1,851,845 Joined:Sep 2004	Message Posted: Dec 13, 2012 3:33:18 AM Ignore pitamon Report Abuse So when is the drop going to happen here?
prcoqui Champion Author Maryland Posts:4,041 Points:1,692,675 Joined:Dec 2006	Message Posted: Dec 13, 2012 3:33:10 AM Ignore prcoqui Report Abuse Who the heck knows?
fordfan1 Champion Author Indiana Posts:9,237 Points:1,918,940 Joined:Jul 2007	Message Posted: Dec 13, 2012 3:31:30 AM Ignore fordfan1 Report Abuse Good to hear but this as we know will be short lived!!!! The refineries will surely cut production to drive the prices back up!!!!
otherdave Champion Author Indiana Posts:3,535 Points:1,296,860 Joined:Oct 2008	Message Posted: Dec 13, 2012 3:31:29 AM Ignore otherdave Report Abuse And gas is still over $3.00
bhb2009 Veteran Author Flint Posts:288 Points:786,510 Joined:Jul 2009	Message Posted: Dec 13, 2012 3:31:12 AM Ignore bhb2009 Report Abuse never
GasPriceHelp4u Champion Author Dayton Posts:2,833 Points:597,475 Joined:Jul 2008	Message Posted: Dec 13, 2012 3:30:23 AM Ignore GasPriceHelp4u Report Abuse Does that mean prices at the pump going to drop?
KentuckyWildcat Champion Author Maryland Posts:9,302 Points:2,213,305 Joined:Mar 2005	Message Posted: Dec 13, 2012 3:28:57 AM Ignore KentuckyWildcat Report Abuse Old news
Clayton2000 Champion Author South Carolina Posts:2,555 Points:518,880 Joined:Oct 2008	Message Posted: Dec 13, 2012 3:28:52 AM Ignore Clayton2000 Report Abuse So
oldred11 Champion Author Indianapolis Posts:1,735 Points:758,950 Joined:Mar 2011	Message Posted: Dec 13, 2012 3:28:47 AM Ignore oldred11 Report Abuse Yesterday's news. . .
jppezz Champion Author New Mexico Posts:8,730 Points:1,720,240 Joined:Jun 2008	Message Posted: Dec 13, 2012 3:28:07 AM Ignore jppezz Report Abuse So when will the prices be dropping?
sappie Champion Author Massachusetts Posts:3,551 Points:609,520 Joined:Jul 2010	Message Posted: Dec 13, 2012 3:28:07 AM Ignore sappie Report Abuse ya.now what?
keithyoon1977 Champion Author Virginia Posts:2,056 Points:524,165 Joined:Dec 2011	Message Posted: Dec 13, 2012 3:28:01 AM Ignore keithyoon1977 Report Abuse ok
dar 1 Champion Author Michigan Posts:6,032 Points:452,895 Joined:Jan 2005	Message Posted: Dec 13, 2012 3:27:15 AM Ignore dar 1 Report Abuse It supposed to build...ITS WINTER....
swede Champion Author Cleveland Posts:3,907 Points:1,704,450 Joined:Feb 2003	Message Posted: Dec 13, 2012 3:26:11 AM Ignore swede Report Abuse ok
nb52 Champion Author Grand Rapids Posts:7,925 Points:1,575,525 Joined:Nov 2008	Message Posted: Dec 13, 2012 3:25:53 AM Ignore nb52 Report Abuse Thanks, overpaid bureaucrats.
FocusST2 Champion Author North Carolina Posts:8,288 Points:1,407,600 Joined:Jul 2009	Message Posted: Dec 13, 2012 3:25:12 AM Ignore FocusST2 Report Abuse Strange no mention by the EIA of $8 gallon fuel or $268 a barrel oil in 2040.
rogerparry Champion Author Florida Posts:9,705 Points:1,945,105 Joined:Jan 2008	Message Posted: Dec 13, 2012 3:25:08 AM Ignore rogerparry Report Abuse Hopefully the prices will drop.
oas Champion Author Maryland Posts:4,375 Points:2,170,090 Joined:Feb 2005	Message Posted: Dec 13, 2012 3:24:04 AM Ignore oas Report Abuse I've never grasped what impact inventories have on pump price.
fillerupyeoww Champion Author Columbus Posts:6,018 Points:1,677,875 Joined:Mar 2008	Message Posted: Dec 13, 2012 3:22:52 AM Ignore fillerupyeoww Report Abuse Good. We need inventories.
RichWLIN Champion Author Indiana Posts:4,256 Points:666,790 Joined:Jun 2011	Message Posted: Dec 13, 2012 3:21:12 AM Ignore RichWLIN Report Abuse "The Energy Information Administration" part of Big Brother's machine says...
installer Champion Author San Diego Posts:1,071 Points:505,025 Joined:Nov 2008	Message Posted: Dec 13, 2012 3:19:44 AM Ignore installer Report Abuse When money is tight, people stay home and concentrate on family matters. I understand that this time of year the supply does go up. Snow and rain and cold tend to take the shine off travel.
Jeffro61 Champion Author Cleveland Posts:2,413 Points:2,311,170 Joined:Oct 2005	Message Posted: Dec 13, 2012 3:19:35 AM Ignore Jeffro61 Report Abuse Prices will force us into another recession.
teamsimons Champion Author South Carolina Posts:2,576 Points:525,955 Joined:Aug 2011	Message Posted: Dec 13, 2012 3:19:09 AM Ignore teamsimons Report Abuse Ah, two increases in inventories. Is there a correlation between this and slightly lower gas prices in South Carolina? Probably not.
Hunter114 Champion Author Chicago Posts:9,459 Points:1,478,410 Joined:Apr 2009	Message Posted: Dec 13, 2012 3:18:58 AM Ignore Hunter114 Report Abuse a yo-yo.
subnuke Champion Author Atlanta Posts:7,628 Points:1,536,165 Joined:Sep 2008	Message Posted: Dec 13, 2012 3:18:19 AM Ignore subnuke Report Abuse intersting
swede Champion Author Cleveland Posts:3,907 Points:1,704,450 Joined:Feb 2003	Message Posted: Dec 13, 2012 3:17:27 AM Ignore swede Report Abuse This could be telling us that the people are starting to reduce spending because of an impending recession.
tamiuron Champion Author Laredo Posts:1,946 Points:750,620 Joined:Jan 2011	Message Posted: Dec 13, 2012 3:16:52 AM Ignore tamiuron Report Abuse up down up
friday21 Champion Author Toronto Posts:5,581 Points:713,185 Joined:Jul 2010	Message Posted: Dec 13, 2012 3:16:00 AM Ignore friday21 Report Abuse ok
alphanyr Champion Author Connecticut Posts:5,115 Points:704,425 Joined:Apr 2011	Message Posted: Dec 13, 2012 3:15:43 AM Ignore alphanyr Report Abuse Ok
Luckylindy Champion Author Milwaukee Posts:4,660 Points:1,155,745 Joined:May 2008	Message Posted: Dec 13, 2012 3:14:15 AM Ignore Luckylindy Report Abuse It means another recession.
FieroGT Champion Author Twin Cities Posts:14,464 Points:2,531,585 Joined:Mar 2005	Message Posted: Dec 13, 2012 3:14:14 AM Ignore FieroGT Report Abuse Our average metro pump price today is $3.12/gal
Ringmaster2008 Champion Author Ontario Posts:7,723 Points:1,184,960 Joined:Apr 2008	Message Posted: Dec 13, 2012 3:13:57 AM Ignore Ringmaster2008 Report Abuse With apparent differnce between supply and demand, prices should be dropping like stones. Unfortunately they are not.
514gallows Sophomore Author New Jersey Posts:114 Points:24,005 Joined:Dec 2012	Message Posted: Dec 13, 2012 3:10:58 AM Ignore 514gallows Report Abuse not sure what all this means
isem Champion Author Missouri Posts:2,069 Points:451,070 Joined:Feb 2012	Message Posted: Dec 13, 2012 3:03:27 AM Ignore isem Report Abuse The increased inventory will not have the consumer’s desired effect of substantially lower prices.
raccoon2011 Champion Author Massachusetts Posts:1,539 Points:380,270 Joined:Aug 2011	Message Posted: Dec 13, 2012 3:03:21 AM Ignore raccoon2011 Report Abuse ok
Delight777 Sophomore Author Cleveland Posts:228 Points:382,395 Joined:Oct 2011	Message Posted: Dec 13, 2012 3:02:42 AM Ignore Delight777 Report Abuse Good to hear!
BurkeDevlin Veteran Author Maine Posts:417 Points:111,500 Joined:Sep 2012	Message Posted: Dec 13, 2012 3:02:39 AM Ignore BurkeDevlin Report Abuse Thanks
ysmc Champion Author Providence Posts:10,708 Points:2,047,095 Joined:Apr 2007	Message Posted: Dec 13, 2012 3:02:28 AM Ignore ysmc Report Abuse East and West Coast refineries are operating at only 79% capacity while the rest of the nation is operating at 90 to 95% capacity. So the "blue states" have an artificial shortage and pay higher prices than the red states. This is price manipulation by the oil companies and refineries.It is wrong.
LeeFree Champion Author Pittsburgh Posts:9,296 Points:2,272,125 Joined:Jun 2005	Message Posted: Dec 13, 2012 3:01:52 AM Ignore LeeFree Report Abuse Prices finally falling to the $3.50 level here.