Wow.

Crude inventories increased by 3.8 million barrels, or 0.4 percent, to 381.4 million barrels, which is 10.3 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report.

Oil production held steady at around 7.1 million barrels a day. That's up about 22 percent from a year ago.

Crude down to $89.70 based on this news.

The Saudi princes must have made their quotas on Maserati purchases last month.

Gas is jumpin up 27 cents here.

No, it's not./ Donger

HELL no.

Crude is down 3.04% today at $94.24. Gasoline at $3.62, or almost $0.30 lower than one year ago.

Crude plummeting today, now down $3.27 (3.58%), at $88.02. Gasoline at $3.51 ($0.38 lower than one year ago).

What was the price per gallon the last time it dropped below $90? What is the history of the price per gallon when under 90?

It varies, of course, depending on the season, but let's look at May 23rd of last year:

Crude = $89.40

Gasoline = $3.62

Paid $3.19 this morning
Posted via Mobile Device

in recent news, all the drops in prices is causing everyone to buy a lot more gas than usual. Due to the demand, we'll be raising the prices again.

This. Everyone will just go buy big trucks and SUVs again driving consumption back up.

thanks

I know that this is important to many folks, so in case you weren't aware, Valero is on plan to cease importing crude (except for Canadian) for refining at its Gulf Coast refineries by the end of this year.

edit: n/m

How does this affect things IYO? In a way it sounds good because it helps our own production, but then there's the other side of the coin where that's not always the least expensive endeavor based on labor prices. Just don't know wnough about the nuances to say much..

It's just tangible evidence that our domestic production has drastically increased, and that we are becoming less dependent on OPEC.

I like tangible evidence like that. I didn't when it was used against me though! And that involved oil too! :D

New terrorist bombing - so much for the low gas prices.

Crude down again today. $2.42 (2.73%) at $86.40

Wow...

Demand for gasoline over the four weeks ended April 12 was 3.3 percent less than a year earlier, averaging 8.4 million barrels a day.

Obligatory "Hahahahahaa **** you Donger!"

It seems like we were seeing similar stories last year. I'd like to see graph that shows gas demand over time.

And this, although it doesn't show 2013 so far:

http://www.eia.gov/dnav/pet/hist_chart/MGFUPUS1a.jpg

Thanks

Oh well...

Crude up to $93.67 today. Sorry.

Welp, back up to $3.50 again overnight.

Meanwhile, it takes a month to drop .25 cents

So what happened?

Crude going down.

Demand going down.

Time to jack the prices up!

Just that time of the month?

Weak dollar.

Gasoline is still at $3.50, BTW.

It lost 8% of its value?

**** me!

This whole time I thought the dollar was regaining its value.

Pardon?

Just relating it to my personal situation in my area. I think i paid $3.29 the other day.

:spock:

http://img812.imageshack.us/img812/6093/usdxe.png

Donger furiously flips through his rolodex of reasons to come up with another one.

Yes, you can see the drop at the end, no?

Oh, and a mouse farted over in Nigeria, too.

LMAO

$3.55 for premium to day in OP

The tags are making me angry. You don't want me to be angry.

Da ****? 1 retracement day in a huge up move is weakness?

The **** you say.

$3.05 today

<iframe width="420" height="315" src="http://www.youtube.com/embed/b4Sb9BHmaxU" frameborder="0" allowfullscreen></iframe>

Within two weeks gas has gone from 3.29 to 3.97 in Springfield.

Holy mother of dog ****

Mother **** you, Donger!

Yup, gas/oil companies have to get in their quarterly phantom spike in to show profit growth.

KY3 reports it's because local refineries have shut down for maintenance or somesuch. I for one welcome $4.50 for ****ing unleaded when July starts.

$3.97 here. But I paid $3.48 at Costco yesterday.

Happy Almost Memorial Day!

No it didn't./Donger :)

I'd neg rep the **** out of him for that

Yeah, I heard it had some BS to do with the refineries, but I haven't yet seen a gas station that didn't have gas in all of its pumps. So put me in the, "sure there is a shortage [/sarcasm]" group. I haven't looked too hard, but unless they are saying that they really can't meet current needs, then to me it is just their quarterly grab. I expect they know by jumping a couple weeks before memorial day they can get everyone who already had their end of school trips planned, and they they'll drop the price just before people start to scream and the gov't starts looking into it.

That's called the "Business as Usual" work plan in the oil business.

Yup, I just felt the need to bitch about the obvious.

$4.13 in Bella Vista AR yesterday

$4.25 here. It's gone up $0.70 in the past month. ****ing ****s. 4321

I want to know why gas has went up .50/gallon in a couple of weeks.

Especially since the price of crude seems to keep dropping.

They were blending fuel & the blender broke

July Brent is still above $100. Link

4.39 in Minneapolis.

Up 53 cents in 4 days

3.39 in Florida

This is a load of crap. Oh, wait, we have a holiday weekend coming up. Never mind. Business as usual.

Meanwhile...

http://www.wccbcharlotte.com/news/lo...207814031.html

We pay more than anybody in California. Yeah?

I paid 3.63 last Thursday, then this Thursday I paid 4.13.

Awesome.

No you didn't /Donger

Obligatory lol

It was 3.69 yesterday morning, and 3.97 by the afternoon.

Even though my car is broke down am glad I'm not getting rape at the pump.

$4.17 here at the pump.

I don't see the issue.

DIAGF

Is it still Bushs fault?

Leave the DC bullshit in DC.

No, it actually looks like that is accurate, unlike most of the time when people have a freak out.

All kidding aside, what happened?

If there's been an issue with a local supplier, the retailers will of course raise prices. There's a time lag between a disruption and having the pumps run dry.