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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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Maintroll Champion Author Lexington Posts:8,769 Points:1,729,860 Joined:Aug 2008	Message Posted: May 10, 2012 8:24:23 AM Ignore Maintroll Report Abuse There is nothing ultra tight in this industry except greed.
tutaw Champion Author Kentucky Posts:3,754 Points:869,245 Joined:Sep 2008	Message Posted: May 10, 2012 8:24:13 AM Ignore tutaw Report Abuse unfortunately, another excuse to raise prices
us30ride Champion Author Fort Wayne Posts:3,464 Points:739,340 Joined:Apr 2011	Message Posted: May 10, 2012 8:23:35 AM Ignore us30ride Report Abuse Open those refineries.......
Mariuxus Champion Author Chicago Posts:3,887 Points:1,897,530 Joined:May 2007	Message Posted: May 10, 2012 8:23:32 AM Ignore Mariuxus Report Abuse ok...
mysub Champion Author Las Vegas Posts:9,046 Points:2,357,190 Joined:Apr 2006	Message Posted: May 10, 2012 8:23:11 AM Ignore mysub Report Abuse ArmydudeNC, you got that right.
dopster Champion Author Toledo Posts:7,437 Points:2,318,975 Joined:Aug 2004	Message Posted: May 10, 2012 8:22:59 AM Ignore dopster Report Abuse Gasoline inventories DROPPED? I thought consumption in the US was down!
JamesCalvin Champion Author Lancaster Posts:3,339 Points:546,280 Joined:Nov 2011	Message Posted: May 10, 2012 8:22:15 AM Ignore JamesCalvin Report Abuse Pump prices will level before they rise! Fundamentals rule! Long term fundamentals reign supreme!
2gjh Champion Author North Dakota Posts:3,174 Points:2,447,600 Joined:Nov 2003	Message Posted: May 10, 2012 8:21:44 AM Ignore 2gjh Report Abuse Can't remember the last time I needed a million barrels of oil. [Edited by: 2gjh at 5/10/2012 9:21:57 AM EST]
tauro514 Champion Author Connecticut Posts:3,260 Points:1,827,140 Joined:Oct 2006	Message Posted: May 10, 2012 8:21:20 AM Ignore tauro514 Report Abuse whatever.
itzagasgasgas1 Champion Author Cincinnati Posts:4,109 Points:1,625,995 Joined:Aug 2005	Message Posted: May 10, 2012 8:20:18 AM Ignore itzagasgasgas1 Report Abuse Inventories ultra tight. Explain! Another excuse to charge more at the pump.
FocusST2 Champion Author North Carolina Posts:8,278 Points:1,405,650 Joined:Jul 2009	Message Posted: May 10, 2012 8:19:55 AM Ignore FocusST2 Report Abuse Here comes the attempt to drive up oil prices since oil's been on a losing streak for the past week.
slgas Champion Author Houston Posts:6,165 Points:1,589,265 Joined:Oct 2008	Message Posted: May 10, 2012 8:19:22 AM Ignore slgas Report Abuse It all interesting, but useless information for most of us.
azadus All-Star Author Houston Posts:554 Points:110,975 Joined:Mar 2012	Message Posted: May 10, 2012 8:19:21 AM Ignore azadus Report Abuse ok
Rick01 Champion Author Utah Posts:9,153 Points:2,388,400 Joined:Sep 2005	Message Posted: May 10, 2012 8:19:19 AM Ignore Rick01 Report Abuse Squeeze supplies and keep the prices high.
mitchells Champion Author Montreal Posts:3,966 Points:1,148,985 Joined:Oct 2009	Message Posted: May 10, 2012 8:18:52 AM Ignore mitchells Report Abuse Still going through the spring change over to Summer gas, inventories always low this time of year
Jizme Champion Author Lincoln Posts:10,015 Points:2,932,480 Joined:Oct 2004	Message Posted: May 10, 2012 8:17:27 AM Ignore Jizme Report Abuse Bla, bla, bla, whatever.
NickoliMB Champion Author Manitoba Posts:2,640 Points:497,920 Joined:Dec 2011	Message Posted: May 10, 2012 8:16:52 AM Ignore NickoliMB Report Abuse You are not going to tell me that they aren't dropping all over.When people cut back the refineries cut back production to avoid surplus and make it sound like there is consumption as usual.Fat chance...Crooks that are manipulating the public to gouge every cent they can.
95Vette Champion Author Missouri Posts:2,595 Points:656,455 Joined:Sep 2005	Message Posted: May 10, 2012 8:16:37 AM Ignore 95Vette Report Abuse I think more than manipulation... It's called control!
sivart Champion Author Arkansas Posts:18,387 Points:3,097,500 Joined:May 2004	Message Posted: May 10, 2012 8:16:23 AM Ignore sivart Report Abuse Shut down some refineries to keep the price of gas UP while the price of crude is dropping?????
Sam195 Champion Author San Bernardino Posts:8,225 Points:1,601,800 Joined:Oct 2008	Message Posted: May 10, 2012 8:16:22 AM Ignore Sam195 Report Abuse They will stay high until they drop the price.
craigrm Champion Author Connecticut Posts:1,800 Points:602,805 Joined:Mar 2008	Message Posted: May 10, 2012 8:16:00 AM Ignore craigrm Report Abuse Hmmm
bikerchicklette Champion Author Washington Posts:5,889 Points:1,300,620 Joined:Sep 2005	Message Posted: May 10, 2012 8:15:45 AM Ignore bikerchicklette Report Abuse interesting
drawee Champion Author Texas Posts:2,440 Points:474,785 Joined:Feb 2012	Message Posted: May 10, 2012 8:13:43 AM Ignore drawee Report Abuse Y?
teatiger Champion Author Dallas Posts:2,815 Points:1,503,590 Joined:Nov 2008	Message Posted: May 10, 2012 8:13:03 AM Ignore teatiger Report Abuse seems to be continued market manipulation
momof5MN Champion Author Twin Cities Posts:4,189 Points:221,335 Joined:Feb 2011	Message Posted: May 10, 2012 8:12:50 AM Ignore momof5MN Report Abuse Supply/demand no longer reality?
DarthDadJr Champion Author Virginia Posts:7,427 Points:1,545,670 Joined:Jul 2008	Message Posted: May 10, 2012 8:11:39 AM Ignore DarthDadJr Report Abuse I'm sure this is all part of the annual switch from Winter to Summer blends...
1mrtym Veteran Author Houston Posts:457 Points:92,475 Joined:Mar 2012	Message Posted: May 10, 2012 8:11:32 AM Ignore 1mrtym Report Abuse ok
photobuddy Champion Author Washington Posts:1,620 Points:370,255 Joined:Feb 2012	Message Posted: May 10, 2012 8:11:07 AM Ignore photobuddy Report Abuse With stocks high on the west coast why are prices still high? Supply and demand are only a concept here?
bluechip77 Rookie Author New York Posts:40 Points:30,070 Joined:Feb 2012	Message Posted: May 10, 2012 8:09:54 AM Ignore bluechip77 Report Abuse And i guess the price at the pump stays HIGH?
TBecker1415 Champion Author Missouri Posts:1,670 Points:349,690 Joined:Nov 2011	Message Posted: May 10, 2012 8:09:10 AM Ignore TBecker1415 Report Abuse nothing new here for the past several weeks / months.
Somis1 Champion Author Ventura Posts:13,825 Points:2,641,500 Joined:Jul 2005	Message Posted: May 10, 2012 8:08:58 AM Ignore Somis1 Report Abuse And yet half a dozen large tankers roll into our Costco every day.
RangerTrainer Champion Author Ottawa Posts:2,593 Points:636,170 Joined:Nov 2010	Message Posted: May 10, 2012 8:08:17 AM Ignore RangerTrainer Report Abuse Ethanol lave our crops for food
techque Champion Author St. Louis Posts:8,790 Points:2,444,405 Joined:Apr 2005	Message Posted: May 10, 2012 8:08:13 AM Ignore techque Report Abuse producers closing refineries to bottleneck supply and drive up prices. BAD monopoly, BAD BAD.
MikLamb Champion Author Texas Posts:8,120 Points:2,201,845 Joined:Jun 2006	Message Posted: May 10, 2012 8:07:54 AM Ignore MikLamb Report Abuse Numbers and more numbers. What does it really mean?
farn1958 All-Star Author Twin Cities Posts:886 Points:183,385 Joined:Feb 2011	Message Posted: May 10, 2012 8:06:05 AM Ignore farn1958 Report Abuse GAMES, GAMES and MORE GAMES
BudsterMO Champion Author Kansas City Posts:3,845 Points:730,655 Joined:Aug 2009	Message Posted: May 10, 2012 8:05:56 AM Ignore BudsterMO Report Abuse More old news from yesterday.
V8power Champion Author Pennsylvania Posts:2,951 Points:1,406,720 Joined:Oct 2005	Message Posted: May 10, 2012 8:05:50 AM Ignore V8power Report Abuse Here comes the speculation.
roadrunnin Champion Author Richmond Posts:1,801 Points:581,280 Joined:May 2008	Message Posted: May 10, 2012 8:05:20 AM Ignore roadrunnin Report Abuse Wonder if the changes to the east coast refinery ownership will have much effect
kyrunner Champion Author Lexington Posts:9,113 Points:1,725,900 Joined:Aug 2008	Message Posted: May 10, 2012 8:04:58 AM Ignore kyrunner Report Abuse And how much do these worthless numbers cost the American taxpayers?
twinfanMN Champion Author Minnesota Posts:1,695 Points:473,880 Joined:Jun 2011	Message Posted: May 10, 2012 8:04:30 AM Ignore twinfanMN Report Abuse The drop in gasoline prices were good while it lasted. You had tyo know the greedy SOB's would work it to get thweprices back up
Zonk Champion Author Michigan Posts:6,616 Points:2,129,490 Joined:Oct 2005	Message Posted: May 10, 2012 8:03:07 AM Ignore Zonk Report Abuse This just offers confusion.
peapaw Champion Author Ohio Posts:4,180 Points:715,495 Joined:Jun 2011	Message Posted: May 10, 2012 8:02:22 AM Ignore peapaw Report Abuse ok
CptnCanada Champion Author Saskatoon Posts:7,046 Points:920,605 Joined:Jun 2008	Message Posted: May 10, 2012 8:01:36 AM Ignore CptnCanada Report Abuse slow down production so you can say SHORTAGE and raise prices
BANKIS2 Champion Author Phoenix Posts:4,405 Points:941,255 Joined:Aug 2010	Message Posted: May 10, 2012 8:01:22 AM Ignore BANKIS2 Report Abuse so the can raise the prices
ILANGE9 Champion Author Illinois Posts:7,754 Points:1,623,925 Joined:Sep 2008	Message Posted: May 10, 2012 8:00:22 AM Ignore ILANGE9 Report Abuse It appears there's no refinery issues when it can be exported to make huge profits but when we need refineries to switch blends or increase output for summer driving, it can't be done. I agree with SmokeFan14.
Gman2011MI Champion Author Michigan Posts:2,060 Points:431,835 Joined:Apr 2011	Message Posted: May 10, 2012 8:00:12 AM Ignore Gman2011MI Report Abuse MORE SPECULATION TO RAISE PRICES AGAIN..........................
robtposteschild Champion Author Ann Arbor Posts:4,322 Points:759,450 Joined:Aug 2005	Message Posted: May 10, 2012 7:58:13 AM Ignore robtposteschild Report Abuse k
9C1 Champion Author Chicago Posts:22,989 Points:4,273,085 Joined:Jul 2001	Message Posted: May 10, 2012 7:56:57 AM Ignore 9C1 Report Abuse Spill, baby spill
peanutsMN Champion Author Twin Cities Posts:1,823 Points:412,615 Joined:Jul 2011	Message Posted: May 10, 2012 7:55:12 AM Ignore peanutsMN Report Abuse OK
Legend1500 All-Star Author Midland Odessa Posts:964 Points:583,175 Joined:Jun 2011	Message Posted: May 10, 2012 7:55:10 AM Ignore Legend1500 Report Abuse K
Dale Jr. Champion Author Illinois Posts:16,364 Points:3,263,775 Joined:May 2004	Message Posted: May 10, 2012 7:55:06 AM Ignore Dale Jr. Report Abuse Can only refine oil to gas so fast with the limited number of gas refineries.
MacGyver_1701 Champion Author Indiana Posts:6,975 Points:2,205,470 Joined:Feb 2005	Message Posted: May 10, 2012 7:53:58 AM Ignore MacGyver_1701 Report Abuse Of course inventories are dropping. Big OIL wants to get prices moving further upward.