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EIA: Big drop in gasoline inventories as refiners purge winter spec gasoline

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 365.2 million barrels. At 365.2 million barrels, inventories are 5.9 million barrels above last year (1.6%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 4.3 million barrels to 217.6 million barrels. At 217.6 million barrels, inventories are up 8.0 million barrels, or 3.8% more than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-2.0mb); Midwest...

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Submitted Apr 11, 2012 By: PD

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bbthegun Champion Author San Diego Posts:5,983 Points:1,682,690 Joined:Sep 2006	Message Posted: Apr 12, 2012 9:48:04 AM Ignore bbthegun Report Abuse Demand is way down...DUH!
Topless2012 Champion Author Twin Cities Posts:2,442 Points:483,015 Joined:Jan 2012	Message Posted: Apr 12, 2012 9:46:38 AM Ignore Topless2012 Report Abuse normal practice
lightbulbman2008 Champion Author Worcester Posts:415,500 Points:1,589,585 Joined:Oct 2008	Message Posted: Apr 12, 2012 9:45:51 AM Ignore lightbulbman2008 Report Abuse after the winter gasoline blend is gone the summer blend make the summer blend go skyrocket in price.
Toppers Champion Author Atlanta Posts:9,022 Points:2,472,645 Joined:Mar 2005	Message Posted: Apr 12, 2012 9:44:02 AM Ignore Toppers Report Abuse Prices remaining the same in GA...
MarkC08 All-Star Author Worcester Posts:663 Points:589,195 Joined:Nov 2008	Message Posted: Apr 12, 2012 9:43:27 AM Ignore MarkC08 Report Abuse OK. higher quantities than last year, but the price still goes up.
dlzastera Champion Author Minnesota Posts:4,520 Points:1,025,295 Joined:Mar 2006	Message Posted: Apr 12, 2012 9:42:56 AM Ignore dlzastera Report Abuse The swich over from winter to summer grade fuels.
slgas Champion Author Houston Posts:6,040 Points:1,564,490 Joined:Oct 2008	Message Posted: Apr 12, 2012 9:42:07 AM Ignore slgas Report Abuse Perfectly normal for this time of year.
ratboy1968 Champion Author Montreal Posts:2,627 Points:550,975 Joined:Oct 2011	Message Posted: Apr 12, 2012 9:40:36 AM Ignore ratboy1968 Report Abuse yawn
BlueVanGroup Champion Author Colorado Posts:7,214 Points:1,530,445 Joined:May 2008	Message Posted: Apr 12, 2012 9:40:23 AM Ignore BlueVanGroup Report Abuse Makes sense: refineries are going down for maintenance and the switch to summer blends ahead of the summer driving season.
96sc1 Champion Author El Paso Posts:8,517 Points:1,367,440 Joined:Mar 2008	Message Posted: Apr 12, 2012 9:39:28 AM Ignore 96sc1 Report Abuse There is no mention of winter spec in the body of the article. The headline is pure commentary.
HEBster Champion Author Kentucky Posts:8,798 Points:2,375,975 Joined:May 2006	Message Posted: Apr 12, 2012 9:39:14 AM Ignore HEBster Report Abuse Prices maintaining in KY.
Old Timer Champion Author Akron Posts:3,752 Points:1,264,965 Joined:Sep 2003	Message Posted: Apr 12, 2012 9:38:36 AM Ignore Old Timer Report Abuse Pump price dropping here for the last week.
Steady325 Champion Author Orange County Posts:2,588 Points:1,461,035 Joined:Nov 2008	Message Posted: Apr 12, 2012 9:36:49 AM Ignore Steady325 Report Abuse higher prices
Mermaan Champion Author Boston Posts:1,572 Points:421,235 Joined:Apr 2011	Message Posted: Apr 12, 2012 9:35:38 AM Ignore Mermaan Report Abuse Which would translate to higher gas prices?
AcuraTSX Champion Author Ohio Posts:5,504 Points:2,184,080 Joined:Dec 2005	Message Posted: Apr 12, 2012 9:35:20 AM Ignore AcuraTSX Report Abuse World market. Does not matter what U.S. inventories do.
tarheelcoastie Champion Author Greensboro Posts:5,206 Points:1,113,105 Joined:Jan 2009	Message Posted: Apr 12, 2012 9:35:00 AM Ignore tarheelcoastie Report Abuse Yep!
byoftDad Champion Author Columbus Posts:4,452 Points:1,233,375 Joined:Apr 2005	Message Posted: Apr 12, 2012 9:34:54 AM Ignore byoftDad Report Abuse Its a ploy by the refineries to boost summer gasoline prices.
truckpdlr Champion Author Tucson Posts:2,959 Points:1,098,045 Joined:Sep 2009	Message Posted: Apr 12, 2012 9:33:46 AM Ignore truckpdlr Report Abuse Again??
DimitrisIL Champion Author Chicago Posts:1,507 Points:525,570 Joined:Feb 2011	Message Posted: Apr 12, 2012 9:33:43 AM Ignore DimitrisIL Report Abuse That means higher prices at the pump.
rnlunder Champion Author Waco Posts:2,321 Points:496,125 Joined:Apr 2011	Message Posted: Apr 12, 2012 9:33:28 AM Ignore rnlunder Report Abuse This is the same story everytime we go from Winter to Summer gas, or Summer to Winter gas. It would seem to me that with a little effort, we could accomplish the seasonal changes in gas blends without disrupting the markets and flow of gasoline. Perhaps the various states, counties and cities that require these boutique gas blends would allow a more liberal grace period for refineries to make these seasonal changes. Better yet, just reduce the number of different gas blends to just a single summber gas and a single winter gas, take it or leave it! When the states, counties and cities refuse the standard gas blend they won't get any gas and their citizens will complain and they will see a sharp reduction in their tax revenues.
smoketown Champion Author Cincinnati Posts:6,241 Points:1,383,825 Joined:Feb 2008	Message Posted: Apr 12, 2012 9:32:50 AM Ignore smoketown Report Abuse repeat...........
eddyp94 Champion Author Ontario Posts:8,163 Points:1,660,835 Joined:Mar 2008	Message Posted: Apr 12, 2012 9:32:47 AM Ignore eddyp94 Report Abuse Don't care, just lower oil prices...
Ticoman54 Champion Author Miami Posts:7,051 Points:1,493,745 Joined:Oct 2008	Message Posted: Apr 12, 2012 9:32:08 AM Ignore Ticoman54 Report Abuse So?
sbazz Champion Author Cleveland Posts:1,334 Points:247,995 Joined:Mar 2011	Message Posted: Apr 12, 2012 9:31:53 AM Ignore sbazz Report Abuse The price will go up anyway
Dale Jr. Champion Author Illinois Posts:16,239 Points:3,239,000 Joined:May 2004	Message Posted: Apr 12, 2012 9:31:49 AM Ignore Dale Jr. Report Abuse Prices where I work have kept falling. And I am surprised.
ChristinaCricke Champion Author New Jersey Posts:3,753 Points:769,525 Joined:Mar 2011	Message Posted: Apr 12, 2012 9:31:23 AM Ignore ChristinaCricke Report Abuse OK
fowlcan Champion Author Oklahoma City Posts:2,125 Points:686,540 Joined:Feb 2011	Message Posted: Apr 12, 2012 9:31:13 AM Ignore fowlcan Report Abuse Just BIG OIL excuse #77
Ready Eddie Champion Author Twin Cities Posts:5,786 Points:1,345,695 Joined:Feb 2003	Message Posted: Apr 12, 2012 9:30:52 AM Ignore Ready Eddie Report Abuse normal cycle
zimowski Champion Author San Jose Posts:6,681 Points:1,586,415 Joined:Nov 2007	Message Posted: Apr 12, 2012 9:30:09 AM Ignore zimowski Report Abuse Only a minor drop in gas prices here locally over the last few days.
ROSYMI Champion Author Michigan Posts:1,028 Points:370,250 Joined:Nov 2011	Message Posted: Apr 12, 2012 9:28:29 AM Ignore ROSYMI Report Abuse so why isn't there a big drop in gas
colaguy Champion Author Columbia Posts:3,181 Points:1,009,925 Joined:Oct 2008	Message Posted: Apr 12, 2012 9:27:54 AM Ignore colaguy Report Abuse supply & demand doesn't seem to matter a whole lot any more with gas
mtnlion Champion Author Utah Posts:7,049 Points:980,460 Joined:Jul 2009	Message Posted: Apr 12, 2012 9:27:13 AM Ignore mtnlion Report Abuse ok
Hi1 Champion Author Ontario Posts:4,865 Points:1,726,560 Joined:Jun 2007	Message Posted: Apr 12, 2012 9:27:13 AM Ignore Hi1 Report Abuse Any thing to raise prices.
RochBear Champion Author Minnesota Posts:10,472 Points:1,743,665 Joined:May 2006	Message Posted: Apr 12, 2012 9:26:35 AM Ignore RochBear Report Abuse Gas does not keep for very long, so they better purge the supply of winter blend. So that should not come as a surprise. ONly the stupid speculators would react to news like this.
DanMtz Champion Author Oakland Posts:3,365 Points:1,245,375 Joined:Oct 2009	Message Posted: Apr 12, 2012 9:26:12 AM Ignore DanMtz Report Abuse A likely explanation.
wilbur_gas Champion Author Los Angeles Posts:1,702 Points:648,610 Joined:Mar 2011	Message Posted: Apr 12, 2012 9:26:08 AM Ignore wilbur_gas Report Abuse Summertime, summertime, I agree prices will be up and away!
malfrog1 Champion Author South Bend Posts:2,211 Points:551,935 Joined:Feb 2011	Message Posted: Apr 12, 2012 9:25:45 AM Ignore malfrog1 Report Abuse Minor reduction is gas prices then another big jump. No doubt about it.
Insuremn Champion Author Twin Cities Posts:4,962 Points:1,032,960 Joined:May 2010	Message Posted: Apr 12, 2012 9:25:16 AM Ignore Insuremn Report Abuse Old news.
rippertoo Champion Author Tacoma Posts:5,765 Points:1,143,785 Joined:Jan 2010	Message Posted: Apr 12, 2012 9:23:28 AM Ignore rippertoo Report Abuse A short term drop in fuel prices followed by another round of up up and away. All manipulation.
DarthDadJr Champion Author Virginia Posts:7,322 Points:1,523,370 Joined:Jul 2008	Message Posted: Apr 12, 2012 9:22:42 AM Ignore DarthDadJr Report Abuse Normal rites of Spring for the refining industry...hopefully lower prices for the Summer are coming.
bjdorval Champion Author Quebec Posts:2,269 Points:1,136,880 Joined:Jul 2008	Message Posted: Apr 12, 2012 9:19:46 AM Ignore bjdorval Report Abuse This article is from yesterday.
DrLyon Champion Author Michigan Posts:6,660 Points:1,213,780 Joined:May 2006	Message Posted: Apr 12, 2012 9:19:07 AM Ignore DrLyon Report Abuse Just lower the price at the pump...
jpk13 Champion Author Wisconsin Posts:8,640 Points:1,596,830 Joined:Sep 2008	Message Posted: Apr 12, 2012 9:18:59 AM Ignore jpk13 Report Abuse And yet gas dropped from $3.85 to $3.76 here yesterday.
emernal Champion Author St. Louis Posts:6,928 Points:2,014,665 Joined:Mar 2004	Message Posted: Apr 12, 2012 9:18:39 AM Ignore emernal Report Abuse More oil will does not make much of a dent in the price of gas. The US is currently an exporter of gasoline. China is happy to chew up whatever surplus there might be. Last summer China passed the US as the largest energy consumer in the world.
NanookAK Champion Author Anchorage Posts:7,265 Points:1,442,965 Joined:Nov 2007	Message Posted: Apr 12, 2012 9:18:05 AM Ignore NanookAK Report Abuse Another excuse to raise prices.
40mpgsaturn Champion Author Wisconsin Posts:2,500 Points:522,380 Joined:Jun 2011	Message Posted: Apr 12, 2012 9:16:34 AM Ignore 40mpgsaturn Report Abuse Prices have actually come down a little here to $3.87.
geoag02 All-Star Author Dallas Posts:843 Points:177,970 Joined:Feb 2011	Message Posted: Apr 12, 2012 9:16:28 AM Ignore geoag02 Report Abuse End CAFE
stevekr Champion Author Sacramento Posts:2,358 Points:691,105 Joined:Jul 2008	Message Posted: Apr 12, 2012 9:14:04 AM Ignore stevekr Report Abuse Drill Here. Drill Now! Pay Less! Impeach Obama!
Valricoslash Champion Author Tampa Posts:6,704 Points:1,355,175 Joined:Nov 2008	Message Posted: Apr 12, 2012 9:11:59 AM Ignore Valricoslash Report Abuse Dah!! Could it be that the refineries are now exporting gasoline???????
Tucker16 Champion Author Ottawa Posts:1,160 Points:545,500 Joined:Jul 2006	Message Posted: Apr 12, 2012 9:11:29 AM Ignore Tucker16 Report Abuse Boo.
itzagasgasgas1 Champion Author Cincinnati Posts:3,984 Points:1,601,445 Joined:Aug 2005	Message Posted: Apr 12, 2012 9:11:07 AM Ignore itzagasgasgas1 Report Abuse Inventories will need to be up to meet summer demand and the loss of refining capacity (idled by closings) on the east coast.