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EIA: Gasoline inventories drop, West Coast inventories continue to be ultra tight

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 3.7 million barrels to a total of 379.5 million barrels. At 379.5 million barrels, inventories are 9.2 million barrels above last year (2.5%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 2.6 million barrels to 207.1 million barrels. At 207.1 million barrels, inventories are up 1.3 million barrels, or 0.6% higher than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+0.2mb); Midwest...

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Submitted May 09, 2012 By: PD

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albert2008 Champion Author Winnipeg Posts:7,367 Points:1,483,935 Joined:Sep 2008	Message Posted: May 15, 2012 5:49:10 AM Ignore albert2008 Report Abuse not nice
blueBMW480 Champion Author Nashville Posts:818,391 Points:843,665 Joined:Jan 2011	Message Posted: May 15, 2012 4:35:57 AM Ignore blueBMW480 Report Abuse Ok
honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: May 15, 2012 2:40:19 AM Ignore honda0105 Report Abuse not making a big difference to the average driver. Inventories go up, down, what matters is the pump prices. Now, West Coast / Midwest prices rising and East Coast falling is interesting.
bikerchicklette Champion Author Washington Posts:5,889 Points:1,297,220 Joined:Sep 2005	Message Posted: May 11, 2012 6:24:08 AM Ignore bikerchicklette Report Abuse interesting
rickfro All-Star Author San Diego Posts:685 Points:329,345 Joined:Nov 2008	Message Posted: May 10, 2012 7:16:12 PM Ignore rickfro Report Abuse And yet prices are still ridiculously high.
GassyKat Champion Author Wisconsin Posts:10,079 Points:2,069,170 Joined:Sep 2005	Message Posted: May 10, 2012 6:45:15 PM Ignore GassyKat Report Abuse OK
dlemma Champion Author Wyoming Posts:4,121 Points:1,557,945 Joined:Feb 2008	Message Posted: May 10, 2012 7:39:38 AM Ignore dlemma Report Abuse nothing will change until we get the usurper out of office.
scrossi Champion Author Indiana Posts:3,899 Points:1,051,415 Joined:Dec 2008	Message Posted: May 10, 2012 6:55:31 AM Ignore scrossi Report Abuse Agreed sethyl.
Sethyl Champion Author Miami Posts:1,768 Points:380,390 Joined:Oct 2009	Message Posted: May 10, 2012 6:52:32 AM Ignore Sethyl Report Abuse Keep the prices headed down ...
matthwbar Champion Author Toledo Posts:4,078 Points:1,020,730 Joined:Jun 2007	Message Posted: May 10, 2012 6:49:30 AM Ignore matthwbar Report Abuse This is not good...
WilW Champion Author Atlanta Posts:12,238 Points:2,675,805 Joined:Aug 2004	Message Posted: May 10, 2012 6:46:44 AM Ignore WilW Report Abuse Meaningless.
BillHeatherL Champion Author Alberta Posts:7,658 Points:1,927,555 Joined:Apr 2007	Message Posted: May 10, 2012 6:44:53 AM Ignore BillHeatherL Report Abuse any excuse to keep pump prices up
40mpgsaturn Champion Author Wisconsin Posts:2,500 Points:522,380 Joined:Jun 2011	Message Posted: May 10, 2012 6:43:45 AM Ignore 40mpgsaturn Report Abuse It does not seem to matter either way we pay!!!
BCHS76 Champion Author Indianapolis Posts:1,048 Points:857,410 Joined:Oct 2009	Message Posted: May 10, 2012 6:40:18 AM Ignore BCHS76 Report Abuse So how are they doing this--pumping it back into the ground?
goalie1950 Champion Author Phoenix Posts:6,425 Points:1,299,345 Joined:Oct 2009	Message Posted: May 10, 2012 6:38:14 AM Ignore goalie1950 Report Abuse Nothing more than a bunch of useless data. The oil companies will control prices which ever way they see fit regardless of what the inventory levels are.
ibhenry Champion Author San Diego Posts:1,536 Points:457,945 Joined:Jun 2011	Message Posted: May 10, 2012 6:37:32 AM Ignore ibhenry Report Abuse yes, gas is still high
FrankTA2 Champion Author New York Posts:4,308 Points:1,098,235 Joined:Jun 2007	Message Posted: May 10, 2012 6:37:23 AM Ignore FrankTA2 Report Abuse Big oil is at it again, they want to keep prices up.
DirtDauber Champion Author San Antonio Posts:6,796 Points:1,630,385 Joined:Nov 2005	Message Posted: May 10, 2012 6:36:46 AM Ignore DirtDauber Report Abuse They will find a way.
twiper1 Champion Author San Diego Posts:7,847 Points:1,608,985 Joined:Oct 2008	Message Posted: May 10, 2012 6:36:28 AM Ignore twiper1 Report Abuse Oil companys wouldnt lie to us would they????
mikerroy Champion Author Albuquerque Posts:2,581 Points:723,845 Joined:May 2005	Message Posted: May 10, 2012 6:36:03 AM Ignore mikerroy Report Abuse Low inventories, how else can big oil keep gas prices high when oil is dropping. Can anyone spell M-A-N-I-P-U-L-A-T-I-O-N? When will we say enough and, kick the politicians out of office that keep taking money from and, supporting big oil companies rip off of the American public?
shores4now Champion Author Kentucky Posts:2,421 Points:526,725 Joined:Jul 2009	Message Posted: May 10, 2012 6:35:53 AM Ignore shores4now Report Abuse ok
jwbssb Rookie Author Virginia Posts:23 Points:12,910 Joined:May 2012	Message Posted: May 10, 2012 6:35:30 AM Ignore jwbssb Report Abuse Hopefully an increase in crude oil supply and an increase in operation of refineries will increase the supply of gasoline. This would hopefully continue to cause prices at the pump to fall due to increase of supply. However, if our demand increases exponentially it would not do us any good.
herndonks Champion Author Baltimore Posts:1,116 Points:211,685 Joined:Dec 2011	Message Posted: May 10, 2012 6:35:23 AM Ignore herndonks Report Abuse the oil companies are undoubtedly trying to keep inventories low so they can keep prices high.
mberg Champion Author Houston Posts:3,822 Points:963,305 Joined:Aug 2010	Message Posted: May 10, 2012 6:33:35 AM Ignore mberg Report Abuse These weekly Thursday reports contain all the excitement I need to make life worth living.
Bus936 Champion Author Lexington Posts:16,459 Points:3,222,930 Joined:May 2004	Message Posted: May 10, 2012 6:33:23 AM Ignore Bus936 Report Abuse Who do you really think actually believes this tripe?
EXTREMESNOW Champion Author Medford Posts:8,910 Points:1,821,540 Joined:Jul 2006	Message Posted: May 10, 2012 6:33:15 AM Ignore EXTREMESNOW Report Abuse And then the prices started to climb...
rawdog1313 Champion Author Lexington Posts:3,319 Points:1,645,830 Joined:May 2008	Message Posted: May 10, 2012 6:32:08 AM Ignore rawdog1313 Report Abuse Regulate Oil Speculation to lower gas prices!
gvan Champion Author Chicago Posts:21,557 Points:2,839,215 Joined:Dec 2004	Message Posted: May 10, 2012 6:32:05 AM Ignore gvan Report Abuse "Gasoline inventories DROPPED? I thought consumption in the US was down!" Consumption can be down but if refinery utilization declines so will inventories.
roundtrip100 Champion Author Fort Wayne Posts:2,018 Points:398,900 Joined:Apr 2012	Message Posted: May 10, 2012 6:32:05 AM Ignore roundtrip100 Report Abuse Need to increase that gasoline reserve.
kzza100 Champion Author New Jersey Posts:1,948 Points:577,070 Joined:Sep 2011	Message Posted: May 10, 2012 6:31:44 AM Ignore kzza100 Report Abuse yup
treehood Champion Author San Diego Posts:2,059 Points:399,685 Joined:May 2011	Message Posted: May 10, 2012 6:31:14 AM Ignore treehood Report Abuse seems like every week I read crude inventories rise while gasoline inventories fall.
AC-302 Champion Author Los Angeles Posts:26,606 Points:2,905,020 Joined:Aug 2004	Message Posted: May 10, 2012 6:31:06 AM Ignore AC-302 Report Abuse West coast is tight? Hmm... that might be why we're seeing prices RISE in a down oil market.
DTrainCanada Champion Author Saskatoon Posts:1,848 Points:1,423,325 Joined:Aug 2005	Message Posted: May 10, 2012 6:30:25 AM Ignore DTrainCanada Report Abuse Let's see a drop at the pumps!
egd Champion Author Twin Cities Posts:8,110 Points:2,122,200 Joined:Mar 2005	Message Posted: May 10, 2012 6:30:22 AM Ignore egd Report Abuse good luck
Spirits All-Star Author Florida Posts:911 Points:372,800 Joined:May 2008	Message Posted: May 10, 2012 6:30:16 AM Ignore Spirits Report Abuse So what does this mean to me?
sbazz Champion Author Cleveland Posts:1,334 Points:247,995 Joined:Mar 2011	Message Posted: May 10, 2012 6:30:06 AM Ignore sbazz Report Abuse Report what was bought by people who drive and that will tell you demand or made up ones by the oil companies CEO's
gvan Champion Author Chicago Posts:21,557 Points:2,839,215 Joined:Dec 2004	Message Posted: May 10, 2012 6:29:32 AM Ignore gvan Report Abuse "West coast inventories continue to be tight" Sure, with West coast refinery utilization at 79.6%.
autohio Champion Author Ohio Posts:3,790 Points:822,400 Joined:Jan 2011	Message Posted: May 10, 2012 6:28:56 AM Ignore autohio Report Abuse Here we go...
BCM1 Champion Author Pennsylvania Posts:1,864 Points:782,995 Joined:Jun 2007	Message Posted: May 10, 2012 6:28:33 AM Ignore BCM1 Report Abuse They are down but they are up. Are you confused?
EMoe57 Champion Author Jacksonville Posts:4,632 Points:1,018,965 Joined:Apr 2009	Message Posted: May 10, 2012 6:28:13 AM Ignore EMoe57 Report Abuse slow down, do your part to save gas
rjd1608 Champion Author Toledo Posts:5,376 Points:1,932,930 Joined:Aug 2003	Message Posted: May 10, 2012 6:28:07 AM Ignore rjd1608 Report Abuse ok
indyjim Champion Author Indianapolis Posts:10,112 Points:2,322,355 Joined:Jul 2006	Message Posted: May 10, 2012 6:28:04 AM Ignore indyjim Report Abuse Like the unemployment figures, they give you the numbers they want you to see.
w4kh Champion Author Tennessee Posts:11,685 Points:2,231,915 Joined:May 2004	Message Posted: May 10, 2012 6:28:04 AM Ignore w4kh Report Abuse Cushing, OK, home of West Texas Intermediate (Benchmark) crude, must be looking for swimming pools to store the oil in, while refiners are shipping their distillate production offshore. Price sliding UP here :(
racerdj Champion Author Indianapolis Posts:9,830 Points:2,059,500 Joined:Jun 2003	Message Posted: May 10, 2012 6:27:06 AM Ignore racerdj Report Abuse Just lower the prices now!
NashGas Champion Author Nashville Posts:3,089 Points:664,680 Joined:Dec 2009	Message Posted: May 10, 2012 6:26:44 AM Ignore NashGas Report Abuse Bummer.
1958tomg Champion Author Kansas Posts:2,154 Points:548,265 Joined:Oct 2011	Message Posted: May 10, 2012 6:26:33 AM Ignore 1958tomg Report Abuse ok
BlueVanGroup Champion Author Colorado Posts:7,214 Points:1,531,320 Joined:May 2008	Message Posted: May 10, 2012 6:25:15 AM Ignore BlueVanGroup Report Abuse The data are the same as yesterday. :-)
tomok Champion Author Portland Posts:33,090 Points:2,348,435 Joined:Aug 2006	Message Posted: May 10, 2012 6:25:00 AM Ignore tomok Report Abuse Crude oil inventories increased, Gasoline inventories decreased, Distillate inventories decreased, Refinery utilization rise of 0.4%, Total US oil stocks are up. Fuel demand is down and fuel prices at the pump are much too high and going up! Big Oil will do anything to keep the price of gas at the pump – high, it's Ultra Tight! 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!
Maintroll Champion Author Lexington Posts:8,649 Points:1,706,060 Joined:Aug 2008	Message Posted: May 10, 2012 6:24:23 AM Ignore Maintroll Report Abuse There is nothing ultra tight in this industry except greed.
tutaw Champion Author Kentucky Posts:3,623 Points:845,670 Joined:Sep 2008	Message Posted: May 10, 2012 6:24:13 AM Ignore tutaw Report Abuse unfortunately, another excuse to raise prices