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GasBuddy News Article

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EIA back to normal Wednesday report: big rise in crude inventories, again

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 5.2 million barrels to a total of 379.8 million barrels. At 379.8 million barrels, inventories are 4.7 million barrels above last year (1.2%) and are above the upper part of the average range for this time of year.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.8 million barrels to 215.5 million barrels. At 215.5 million barrels, inventories are up 16.9 million barrels, or 8.5% higher than one year ago. Here's how individual regions and their gasoline inventory fared last week: East...


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Submitted Oct 23, 2013 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: EIA back to normal Wednesday report: big rise in crude inventories, again Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

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Message Posted: Oct 26, 2013 12:02:09 AM

85: well, that's what PD is for, right? He's the senior analyst at GB.
85XJ
Champion Author Toledo

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Message Posted: Oct 25, 2013 11:05:23 AM

The big problem with this report for us, as consumers, is that we aren't seeing this data in real time. What we're seeing is last weeks data so it really doesn't correspond to what is going on now.
40mpgsaturn
Champion Author Wisconsin

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Message Posted: Oct 25, 2013 9:30:25 AM

Prices here are slowly coming back down.
honda0105
Champion Author Tallahassee

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Message Posted: Oct 25, 2013 12:01:23 AM

normal is a relative word here.
Pete12
Champion Author Albany

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Message Posted: Oct 24, 2013 9:22:45 PM

It sounds very promising for the price of gas to continue going down.
rjhenn
Champion Author Des Moines

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Message Posted: Oct 24, 2013 7:52:57 PM

2parrots - "EIA were non-essential during the shutdown .Let`s make that permanent."

Are you "essential" in your job?

Meaning would your company suffer significant damage if they fired you?
ronbo2010
Champion Author Los Angeles

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Message Posted: Oct 24, 2013 12:46:09 PM

How much effect does the EIA reports contributes to the pump pricing? I am thinking if the EIA says inventory is low, does pump prices go up?

[Edited by: ronbo2010 at 10/24/2013 12:46:59 PM EST]
nwhawk
Champion Author Kansas

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Message Posted: Oct 24, 2013 11:40:42 AM

DSL987 has a point.
DSL987
Rookie Author San Antonio

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Points:910
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Message Posted: Oct 24, 2013 10:55:25 AM

mdcsgt: You need to add transportation cost to the gas station, then add some profit for the owner, and finally slap on that state and federal gas tax
mdcsgt
Champion Author South Carolina

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Message Posted: Oct 24, 2013 8:50:34 AM

So the NYMEX price on stock market is $2.55 BUT "SPOT PRICING" is ranging from $2.34 to $2.55 depending on your location. THEN, WHY THE HELL ARE PUMP PRICES STILL OVER $3 a gallon in 90% of the Continental US. We all know why, PROFITS ARE THROUGH THE DAMN ROOF!!! AT (WE), the CONSUMER's EXPENSE!!!!
k2kipp
Champion Author Minnesota

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Message Posted: Oct 24, 2013 6:17:40 AM

But will gas prices drop?
dar 1
Champion Author Michigan

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Message Posted: Oct 24, 2013 6:07:59 AM

Good news for all......
2parrots
Champion Author Massachusetts

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Message Posted: Oct 24, 2013 6:02:31 AM

EIA were non-essential during the shutdown .Let`s make that permanent.
RocketGeek
Champion Author Grand Rapids

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Message Posted: Oct 24, 2013 6:01:08 AM

Put prices in free-fall.
pepinoNC
Champion Author Raleigh

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Message Posted: Oct 24, 2013 6:00:47 AM

Oh noes
BEngr
Champion Author Illinois

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Message Posted: Oct 24, 2013 6:00:29 AM

I' almost over my withdrawal pains, now that the weekly report has started again.
Lengas
Champion Author Gary

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Message Posted: Oct 24, 2013 5:59:04 AM

SOP
jppezz
Champion Author New Mexico

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Message Posted: Oct 24, 2013 5:58:41 AM

It dropped here yesterday.
jci25946
Champion Author Tampa

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Message Posted: Oct 24, 2013 5:57:24 AM

More supply, no comparable price drop!!
Ferdman17
Champion Author Albany

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Message Posted: Oct 24, 2013 5:57:21 AM

Like a yo yo...
Petrock
Champion Author Lexington

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Message Posted: Oct 24, 2013 5:56:21 AM

We have more oil than we can figure out what to do with ... so let's raise prices ! (again)
DerTaubman
Champion Author Detroit

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Message Posted: Oct 24, 2013 5:55:22 AM

They will make their own excuse to raise prices if neccesary.
chuckohio
Champion Author Columbus

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Message Posted: Oct 24, 2013 5:53:55 AM

Great
otherdave
Champion Author Indiana

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Message Posted: Oct 24, 2013 5:53:23 AM

Yesterday's news.
Rick52
Champion Author Milwaukee

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Message Posted: Oct 24, 2013 5:52:51 AM

Sure...But that won't stop them from trying to drive up Gas Prices..They are just waiting for any Excuse..
AESJOBLOM4
Champion Author Florida

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Message Posted: Oct 24, 2013 5:51:21 AM

SO???
AKmailman
Champion Author Alaska

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Message Posted: Oct 24, 2013 5:50:20 AM

Yup, back to the normal propaganda from DOE -
The ESSENTIAL govt agency
LeeFree
Champion Author Pittsburgh

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Message Posted: Oct 24, 2013 5:50:14 AM

Methinks that should keep downward pressure on gas prices.
Hunter114
Champion Author Chicago

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Message Posted: Oct 24, 2013 5:50:05 AM

Oil & gas not following supply and demand principles.
alphanyr
Champion Author Connecticut

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Message Posted: Oct 24, 2013 5:48:36 AM

Okay thanks
Sanpoil
Champion Author Spokane

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Message Posted: Oct 24, 2013 5:45:58 AM

It's about time.
fillerupyeoww
Champion Author Columbus

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Message Posted: Oct 24, 2013 5:45:49 AM

Nothing is 'back to normal', it's the same as always.
Bxman
All-Star Author Richmond

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Message Posted: Oct 24, 2013 5:45:15 AM

More oil less gas?
Price fixing?

muddawgs
Champion Author Mississippi

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Message Posted: Oct 24, 2013 5:44:55 AM

COULD NOT TELL IT AT THE PUMP YESTERDAY
PRICES ARE ON THE RISE HERE
SO MUCH FOR SUPPLY AND DEMAND ECONOMICS 101
BeatOPEC
Champion Author Indianapolis

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Message Posted: Oct 24, 2013 5:44:17 AM

Who cares, the industry will do what it wants anyway.
gabisgram
Champion Author Michigan

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Message Posted: Oct 24, 2013 5:43:08 AM

Yeah, just need a big price drop now.
Beau2140
Champion Author New York

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Message Posted: Oct 24, 2013 5:42:00 AM

Make the pump price drop.
drbogenbroom
Champion Author Twin Cities

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Message Posted: Oct 24, 2013 5:41:35 AM

I'm so excited, I just can't hide it.
djp071158
Champion Author Detroit

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Message Posted: Oct 24, 2013 5:41:30 AM

This is one government report that was not needed during the shutdown. Maybe they should take note and not waste further taxpayer money on unneeded departments or reports.
Bill100
Champion Author Grand Rapids

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Message Posted: Oct 24, 2013 5:40:24 AM

Oh, goody. News to file.
jony
Champion Author Florida

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Message Posted: Oct 24, 2013 5:40:14 AM

still waiting for a lower price at the pump
Number43
Champion Author Lexington

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Message Posted: Oct 24, 2013 5:40:04 AM

It suggests lower prices are on the way.
stevencr
Champion Author Ohio

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Message Posted: Oct 24, 2013 5:39:45 AM

Inventories going down, look out!
metrojeep
Champion Author Fort Worth

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Message Posted: Oct 24, 2013 5:37:03 AM

More numbers
studebaker1940
Champion Author Tampa

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Message Posted: Oct 24, 2013 5:36:49 AM

Get ready for $10 a gallon
gravie314
Champion Author South Carolina

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Message Posted: Oct 24, 2013 5:34:52 AM

ugh
turbodog
Champion Author Mississippi

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Message Posted: Oct 24, 2013 5:30:38 AM

how did we live without them
Zuman
Champion Author New York

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Message Posted: Oct 24, 2013 5:29:41 AM

Another non essential agency.
AvantiMick
Champion Author Indiana

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Message Posted: Oct 24, 2013 5:28:54 AM

The US needs more refineries!! Of course, then they would export our gas!
UseLessGasFolks
Champion Author Iowa

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Message Posted: Oct 24, 2013 5:27:59 AM


So refineries are holding back and trying to keep prices high.
SavingInNC
Champion Author North Carolina

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Message Posted: Oct 24, 2013 5:27:24 AM

Okay
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