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EIA: Crude inventories up, refinery output up, gasoline stocks fall as summer switch-over nearly com

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 2.8 million barrels to a total of 375.9 million barrels. At 375.9 million barrels, inventories are 9.3 million barrels above last year (2.5%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 2.0 million barrels to 209.7 million barrels. At 209.7 million barrels, inventories are up 5.2 million barrels, or 2.5% higher than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-0.8mb); Midwest...

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Submitted May 02, 2012 By: PD

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Sethyl Champion Author Miami Posts:1,733 Points:373,465 Joined:Oct 2009	Message Posted: May 3, 2012 9:52:21 AM Ignore Sethyl Report Abuse keep coming down.
dougtaylor1 Champion Author Phoenix Posts:1,746 Points:444,000 Joined:Jun 2011	Message Posted: May 3, 2012 9:51:31 AM Ignore dougtaylor1 Report Abuse This summer gas mixture has got to go.
lightbulbman2008 Champion Author Worcester Posts:413,609 Points:1,583,635 Joined:Oct 2008	Message Posted: May 3, 2012 9:50:49 AM Ignore lightbulbman2008 Report Abuse wait and see what happens at the pump...
HB1 Sophomore Author Columbus Posts:135 Points:887,275 Joined:Dec 2005	Message Posted: May 3, 2012 9:50:17 AM Ignore HB1 Report Abuse Gas rose 30 cents a gallon last night
hibsaw Champion Author Mississippi Posts:8,022 Points:1,677,965 Joined:Feb 2008	Message Posted: May 3, 2012 9:45:56 AM Ignore hibsaw Report Abuse I'm ready to see gasoline prices fall!!!
mysub Champion Author Las Vegas Posts:8,891 Points:2,326,465 Joined:Apr 2006	Message Posted: May 3, 2012 9:45:49 AM Ignore mysub Report Abuse GaSrt8, there's just as many reasons to lower them. They just ignore them.
Tutootin Champion Author Toronto Posts:10,101 Points:3,073,430 Joined:Jun 2004	Message Posted: May 3, 2012 9:42:25 AM Ignore Tutootin Report Abuse Yesterday's article...again!!!!
BM4225 Champion Author Atlanta Posts:10,099 Points:2,091,045 Joined:Aug 2006	Message Posted: May 3, 2012 9:41:26 AM Ignore BM4225 Report Abuse So the inventories are up, and there will be less driving, so the prices should drop. Right?
Insuremn Champion Author Twin Cities Posts:4,932 Points:1,027,010 Joined:May 2010	Message Posted: May 3, 2012 9:40:29 AM Ignore Insuremn Report Abuse Ok.
focusvt Champion Author Detroit Posts:9,176 Points:1,590,455 Joined:May 2008	Message Posted: May 3, 2012 9:40:22 AM Ignore focusvt Report Abuse Gas prices jumped $0.14 here overnight.
tsgasprc Champion Author Colorado Posts:1,312 Points:359,840 Joined:Jun 2010	Message Posted: May 3, 2012 9:39:45 AM Ignore tsgasprc Report Abuse Traders are "long" on the market, if they become "short" then prices fall. Too bad it isn't market driven.
nobodyMO Champion Author Kansas City Posts:2,251 Points:554,305 Joined:Nov 2010	Message Posted: May 3, 2012 9:38:55 AM Ignore nobodyMO Report Abuse ok
GaSrt8 Veteran Author Georgia Posts:331 Points:396,980 Joined:Nov 2011	Message Posted: May 3, 2012 9:38:28 AM Ignore GaSrt8 Report Abuse There are always reasons to increase the price of gas, not so many to lower prices.
JWHITE1937 Champion Author Massachusetts Posts:2,504 Points:993,005 Joined:Aug 2006	Message Posted: May 3, 2012 9:37:24 AM Ignore JWHITE1937 Report Abuse These are VERY good reasons to INCREASE gas prices? Summer blend! I live in Florida.
kulwicki7 All-Star Author Virginia Posts:638 Points:268,845 Joined:Sep 2005	Message Posted: May 3, 2012 9:37:17 AM Ignore kulwicki7 Report Abuse OK
40mpgsaturn Champion Author Wisconsin Posts:2,480 Points:517,630 Joined:Jun 2011	Message Posted: May 3, 2012 9:36:51 AM Ignore 40mpgsaturn Report Abuse This should be good news,not holding my breath!!
Blazer197 Champion Author New Haven Posts:3,240 Points:615,150 Joined:Feb 2009	Message Posted: May 3, 2012 9:35:59 AM Ignore Blazer197 Report Abuse Who cares.
DimitrisIL Champion Author Chicago Posts:1,496 Points:519,550 Joined:Feb 2011	Message Posted: May 3, 2012 9:35:18 AM Ignore DimitrisIL Report Abuse And when the gas prices will go down?
bginsj Champion Author San Jose Posts:1,848 Points:1,230,935 Joined:May 2009	Message Posted: May 3, 2012 9:33:39 AM Ignore bginsj Report Abuse and yet this happens every year and prices are still high
dlzastera Champion Author Minnesota Posts:4,490 Points:1,019,345 Joined:Mar 2006	Message Posted: May 3, 2012 9:33:09 AM Ignore dlzastera Report Abuse You never really know the real truth.
Teddy95 Champion Author Dayton Posts:41,125 Points:2,692,125 Joined:Oct 2005	Message Posted: May 3, 2012 9:32:48 AM Ignore Teddy95 Report Abuse Hummm....
Car54BC08 Champion Author British Columbia Posts:4,234 Points:1,506,340 Joined:Jun 2008	Message Posted: May 3, 2012 9:32:29 AM Ignore Car54BC08 Report Abuse Old news
W5IEM Veteran Author Lexington Posts:265 Points:356,120 Joined:Mar 2012	Message Posted: May 3, 2012 9:31:35 AM Ignore W5IEM Report Abuse Of course the price at the pump will also go up...
Virgin55 Veteran Author Ocala Posts:313 Points:888,340 Joined:May 2010	Message Posted: May 3, 2012 9:30:05 AM Ignore Virgin55 Report Abuse ok
orcar Champion Author Boise Posts:2,043 Points:773,990 Joined:Jun 2010	Message Posted: May 3, 2012 9:29:47 AM Ignore orcar Report Abuse ok
95Vette Champion Author Missouri Posts:2,510 Points:628,880 Joined:Sep 2005	Message Posted: May 3, 2012 9:29:05 AM Ignore 95Vette Report Abuse Hopefully we will see prices go down.. but I fear that this is just the usual speculation.
ZeroBoxes Champion Author Mississippi Posts:1,064 Points:209,565 Joined:Apr 2012	Message Posted: May 3, 2012 9:27:41 AM Ignore ZeroBoxes Report Abuse How often does the EIA receive an external audit or GAO IG inspection? And when and what, were the last three dates/results. Numbers don't lie...people adjust numbers to meet their needs.
Mermaan Champion Author Boston Posts:1,572 Points:421,235 Joined:Apr 2011	Message Posted: May 3, 2012 9:26:39 AM Ignore Mermaan Report Abuse lol, only saw about 5 cents off... greattttt
paoli8 Champion Author Philadelphia Posts:7,071 Points:1,816,895 Joined:Jul 2007	Message Posted: May 3, 2012 9:26:16 AM Ignore paoli8 Report Abuse Lets see what happens to pump prices before getting too excited
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: May 3, 2012 9:25:10 AM Ignore EmperorsFinest Report Abuse The price only goes up.
kriketgirl Veteran Author Michigan Posts:306 Points:1,065,300 Joined:May 2009	Message Posted: May 3, 2012 9:25:07 AM Ignore kriketgirl Report Abuse Gas just went up 27 cents here to 3.99.
PrinceLH Champion Author Ontario Posts:2,672 Points:534,045 Joined:Jun 2011	Message Posted: May 3, 2012 9:25:06 AM Ignore PrinceLH Report Abuse So? Where is the law of supply and demand? Only works one way, apparently.
ModelWarships Champion Author Missouri Posts:5,769 Points:1,227,110 Joined:Jul 2008	Message Posted: May 3, 2012 9:24:38 AM Ignore ModelWarships Report Abuse OK, so let's get to dropping the price.
BWALL2700 Champion Author Illinois Posts:2,174 Points:195,735 Joined:Apr 2011	Message Posted: May 3, 2012 9:22:32 AM Ignore BWALL2700 Report Abuse Time for the higher priced summer blend gas.
puinsai808 Champion Author Honolulu Posts:3,524 Points:723,305 Joined:May 2011	Message Posted: May 3, 2012 9:22:29 AM Ignore puinsai808 Report Abuse That's our problem, "Gasoline stocks fall."
BoerneWatch Champion Author San Antonio Posts:15,521 Points:2,449,940 Joined:Oct 2005	Message Posted: May 3, 2012 9:22:29 AM Ignore BoerneWatch Report Abuse Oil was off by a buck and a half and gas was down to three and eight pennies when I left the house.
Sam195 Champion Author San Bernardino Posts:8,070 Points:1,571,075 Joined:Oct 2008	Message Posted: May 3, 2012 9:22:03 AM Ignore Sam195 Report Abuse That sounds like good news.
MarAzul Champion Author London Posts:3,756 Points:675,485 Joined:Feb 2011	Message Posted: May 3, 2012 9:22:03 AM Ignore MarAzul Report Abuse good.
eddyp94 Champion Author Ontario Posts:8,163 Points:1,660,835 Joined:Mar 2008	Message Posted: May 3, 2012 9:22:00 AM Ignore eddyp94 Report Abuse But will this lower oil prices...
2gjh Champion Author North Dakota Posts:3,174 Points:2,447,600 Joined:Nov 2003	Message Posted: May 3, 2012 9:20:47 AM Ignore 2gjh Report Abuse Put out by a government bureaucracy that just costs us tax dollars.
INBwana Champion Author Indiana Posts:5,416 Points:691,985 Joined:Apr 2011	Message Posted: May 3, 2012 9:20:39 AM Ignore INBwana Report Abuse This is 100% cowabunga!!! Overnight our gas went up from $3.77 to #3.99. Go figure that! Someone doesn't have their facts straight or their head is up where the sun doesn't shine!!!!
CoolShah Rookie Author New Jersey Posts:86 Points:132,650 Joined:Apr 2011	Message Posted: May 3, 2012 9:20:32 AM Ignore CoolShah Report Abuse nothing new.. old story
fxb1 Champion Author Louisiana Posts:2,533 Points:602,635 Joined:Mar 2011	Message Posted: May 3, 2012 9:19:42 AM Ignore fxb1 Report Abuse ok
dchiou Champion Author San Jose Posts:2,811 Points:789,740 Joined:Feb 2007	Message Posted: May 3, 2012 9:19:37 AM Ignore dchiou Report Abuse sure
vizilo Champion Author British Columbia Posts:5,729 Points:2,590,650 Joined:May 2004	Message Posted: May 3, 2012 9:19:24 AM Ignore vizilo Report Abuse prices have nowhere to go but up
123cowboy Champion Author Maine Posts:1,833 Points:403,570 Joined:Mar 2011	Message Posted: May 3, 2012 9:18:36 AM Ignore 123cowboy Report Abuse OK..
BlueVanGroup Champion Author Colorado Posts:7,189 Points:1,524,655 Joined:May 2008	Message Posted: May 3, 2012 9:17:58 AM Ignore BlueVanGroup Report Abuse It's the same as yesterday. :-)
CPayZombie Champion Author Phoenix Posts:10,047 Points:1,651,615 Joined:Aug 2008	Message Posted: May 3, 2012 9:17:52 AM Ignore CPayZombie Report Abuse We need to do away with the summer, winter and boutique blends.
Ready Eddie Champion Author Twin Cities Posts:5,756 Points:1,339,745 Joined:Feb 2003	Message Posted: May 3, 2012 9:17:41 AM Ignore Ready Eddie Report Abuse Go find something to write about.
TXGasPriceSpy Champion Author Fort Worth Posts:7,786 Points:1,468,275 Joined:Sep 2008	Message Posted: May 3, 2012 9:16:46 AM Ignore TXGasPriceSpy Report Abuse You can read highlights all day long. What really counts is the price at the pump.
CDMAuto Champion Author Connecticut Posts:3,773 Points:749,915 Joined:Apr 2011	Message Posted: May 3, 2012 9:16:36 AM Ignore CDMAuto Report Abuse old news
eaglev Champion Author Oklahoma City Posts:4,001 Points:937,155 Joined:Jul 2005	Message Posted: May 3, 2012 9:16:28 AM Ignore eaglev Report Abuse We have conserved so much that we are exporting refined gasoline.