GasBuddy News Article

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U.S. Swimming In Gasoline Supplies

consumeraffairs.com --
July 2, 2009

Market surprised by falling gasoline demand

At the start of July, the U.S. has plenty of gasoline and diesel fuel on hand, which should continue to put downward pressure on prices at the pump.

On Thursday the average price of gasoline is $2.629 a gallon, down every day since peaking at $2.70 11 days ago. The average price of diesel is also $2.629 a gallon.

On Wednesday the U.S. Energy Information Administration reported that, for the week ending June 26, gasoline inventories rose 2.3 million barrels. That took industry analysts by surprise, since they anticipated an increase in summer driving would draw inventories down by two million barrels.

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Submitted Jul 02, 2009 By: zornave

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epf All-Star Author Grand Rapids Posts:702 Points:654,590 Joined:May 2004	Message Posted: Jul 3, 2009 5:56:13 AM Ignore epf Report Abuse Price still going up in West MI
DTGas Champion Author Ontario Posts:2,069 Points:416,320 Joined:Feb 2008	Message Posted: Jul 3, 2009 5:56:04 AM Ignore DTGas Report Abuse Well then what about the prices?
Weirdomania1 Champion Author Orange County Posts:2,219 Points:404,040 Joined:Jan 2008	Message Posted: Jul 3, 2009 5:55:12 AM Ignore Weirdomania1 Report Abuse and this means that they will probably raise prices because they are not making as much as they thought and the just can't be wrong. The money has to come from somewhere.... the simplest explanation is most likely the right one...
Hunter724 Champion Author New Hampshire Posts:1,784 Points:382,160 Joined:Sep 2008	Message Posted: Jul 3, 2009 5:53:24 AM Ignore Hunter724 Report Abuse About time for prices to come down at the pump!!!
Prescottonian Champion Author Ontario Posts:1,183 Points:527,395 Joined:Aug 2007	Message Posted: Jul 3, 2009 5:52:00 AM Ignore Prescottonian Report Abuse I hope this means that the prices at the pumps will start coming down!
PaylessKY Champion Author Kentucky Posts:1,430 Points:377,430 Joined:Oct 2008	Message Posted: Jul 3, 2009 5:50:21 AM Ignore PaylessKY Report Abuse Price is steady in this area with some prices down.
RocketGeek Champion Author Grand Rapids Posts:4,136 Points:848,920 Joined:May 2005	Message Posted: Jul 3, 2009 5:50:03 AM Ignore RocketGeek Report Abuse Now that's some good news!
fratt Champion Author Grand Rapids Posts:3,491 Points:1,384,200 Joined:Jul 2005	Message Posted: Jul 3, 2009 5:50:02 AM Ignore fratt Report Abuse Great, Keep conserving!!!
Jamer Champion Author Orange County Posts:2,544 Points:423,325 Joined:Jul 2002	Message Posted: Jul 3, 2009 5:44:40 AM Ignore Jamer Report Abuse Prices are falling because of the new regulators rules and for the fact that it's driving the speculators back in the corner's where they belong. This is long overdue.
ccourt Champion Author Columbia Posts:2,007 Points:367,250 Joined:Aug 2008	Message Posted: Jul 3, 2009 5:43:33 AM Ignore ccourt Report Abuse It went down here,
AvantiMick Champion Author Indiana Posts:6,690 Points:1,331,950 Joined:Dec 2005	Message Posted: Jul 3, 2009 5:41:01 AM Ignore AvantiMick Report Abuse So why did gas jump on Wednesday???
NJColt Champion Author New Jersey Posts:6,390 Points:1,385,630 Joined:Aug 2005	Message Posted: Jul 3, 2009 5:39:51 AM Ignore NJColt Report Abuse CHOKE ON IT BABY!!!!!!!!!
doncNJ Champion Author New Jersey Posts:1,533 Points:318,415 Joined:Oct 2008	Message Posted: Jul 3, 2009 5:32:44 AM Ignore doncNJ Report Abuse price of gas slightly down in NJ
QueenMother Champion Author New Hampshire Posts:1,332 Points:950,475 Joined:May 2006	Message Posted: Jul 3, 2009 5:31:45 AM Ignore QueenMother Report Abuse Prices went up yesterday just in time for the 4th of July.
artyboy All-Star Author Miami Posts:706 Points:274,475 Joined:Oct 2008	Message Posted: Jul 3, 2009 5:29:19 AM Ignore artyboy Report Abuse prices up wages down. of course there's more
hooky Champion Author Michigan Posts:12,254 Points:1,173,070 Joined:Sep 2005	Message Posted: Jul 3, 2009 5:28:35 AM Ignore hooky Report Abuse Pump prices don't reflect this!
LtAndy Sophomore Author Rhode Island Posts:103 Points:265,765 Joined:Oct 2008	Message Posted: Jul 3, 2009 5:27:30 AM Ignore LtAndy Report Abuse Between the economy and the weather, no surprise. Here in RI, 29 of the last 32 days have had precipitation. Not much incentive to travel unless going far away
jwalkerh Champion Author Louisiana Posts:1,089 Points:313,135 Joined:Oct 2008	Message Posted: Jul 3, 2009 5:22:36 AM Ignore jwalkerh Report Abuse I am not surprised that gas supplies are up, not much has changed in the state of the economy.
TommyR Champion Author New Jersey Posts:7,152 Points:1,316,650 Joined:Nov 2005	Message Posted: Jul 3, 2009 5:21:57 AM Ignore TommyR Report Abuse Yet the rip-off continues with prices stagnant or rising.
DrCashFlow Champion Author Massachusetts Posts:1,205 Points:436,750 Joined:Jun 2008	Message Posted: Jul 3, 2009 5:12:02 AM Ignore DrCashFlow Report Abuse Gas prices will likely peak in the next week or so, and perhaps have already reached their peak for the balance of 2009.
JNewkirk All-Star Author Arkansas Posts:803 Points:568,335 Joined:Sep 2005	Message Posted: Jul 3, 2009 5:11:32 AM Ignore JNewkirk Report Abuse We aren't demanding as much because the price is too damned high. If Big Oil's gonna stick it to us, we'll stick it to them just as hard!
GasholeMI Champion Author Lansing Posts:3,814 Points:473,940 Joined:Jul 2008	Message Posted: Jul 3, 2009 5:09:50 AM Ignore GasholeMI Report Abuse What happened to all those posts that claimed it was a plot by Bush and Cheney?
westover Champion Author New Jersey Posts:7,004 Points:1,384,935 Joined:Nov 2005	Message Posted: Jul 3, 2009 5:09:34 AM Ignore westover Report Abuse Good news
oilrobber Champion Author Miami Posts:3,243 Points:677,830 Joined:May 2007	Message Posted: Jul 3, 2009 5:08:26 AM Ignore oilrobber Report Abuse Don't you just love the speculators. Now if someone would hand deliver this article to oil companies. Gas has only dropped in south Florida to $2.75 a gallon.
jjjleblanc All-Star Author Rochester Posts:986 Points:373,915 Joined:Jun 2008	Message Posted: Jul 3, 2009 5:07:18 AM Ignore jjjleblanc Report Abuse You'd never know it by gas prices. It is summer and could be worse.
momarunnin Rookie Author Michigan Posts:84 Points:91,280 Joined:Oct 2008	Message Posted: Jul 3, 2009 5:04:41 AM Ignore momarunnin Report Abuse Well if that is the case then why was gas 2.48 yesterday and 2.61 today?? I think the got up and down mixed up at the gas stations or they haven't read this article.
dhawk24 Champion Author Maine Posts:1,649 Points:398,175 Joined:Jul 2008	Message Posted: Jul 3, 2009 5:02:23 AM Ignore dhawk24 Report Abuse Holding steady at $2.77 here..
stpetebp Champion Author Tampa Posts:1,468 Points:562,845 Joined:Nov 2007	Message Posted: Jul 3, 2009 4:58:37 AM Ignore stpetebp Report Abuse Keep the demand down Conserve, conserve, conserve...
mdegug Champion Author Rochester Posts:1,057 Points:376,515 Joined:Jul 2008	Message Posted: Jul 3, 2009 4:52:17 AM Ignore mdegug Report Abuse Not around here
BM4225 Champion Author Atlanta Posts:4,007 Points:894,615 Joined:Aug 2006	Message Posted: Jul 3, 2009 4:51:15 AM Ignore BM4225 Report Abuse Hey, we are conserving, and finding better ways to spend our money, like savings. What a wonderful concept. Now just think how much we would save if we were not taxed on the money we earned by saving. This would allow this country to borrow fron it citizens, instead of those that want tu bury us, like China.
BigDogOH Champion Author Cincinnati Posts:2,208 Points:566,970 Joined:Mar 2008	Message Posted: Jul 3, 2009 4:49:45 AM Ignore BigDogOH Report Abuse Yet pump price goes up
Ratso Champion Author Ohio Posts:8,720 Points:1,431,620 Joined:Sep 2003	Message Posted: Jul 3, 2009 4:46:30 AM Ignore Ratso Report Abuse Then why the increases?? Other than greed...
MINImine Veteran Author Dayton Posts:441 Points:402,210 Joined:May 2008	Message Posted: Jul 3, 2009 4:41:27 AM Ignore MINImine Report Abuse Blame Obama
BoerneWatch Champion Author San Antonio Posts:8,489 Points:1,190,235 Joined:Oct 2005	Message Posted: Jul 3, 2009 4:36:56 AM Ignore BoerneWatch Report Abuse The refineries pushed the price up that pushed the price of oil up that squeezed their profit margins. Oil needs to go down but it won't due to exploration coming to a halt in this country due to fear of what the administration is going to do to oil. Look for higher prices even though we are swimming in oil right now.
Petrock Champion Author Lexington Posts:3,059 Points:1,331,085 Joined:Apr 2005	Message Posted: Jul 3, 2009 4:33:06 AM Ignore Petrock Report Abuse Enjoy it while it lasts! Prices may fall until the economy improves, then demand will grow and so will prices.
cheapertvs Champion Author Richmond Posts:3,698 Points:1,478,570 Joined:Jan 2004	Message Posted: Jul 3, 2009 4:32:35 AM Ignore cheapertvs Report Abuse And the price at the pump continues to rise.
theawesome1 Champion Author Cleveland Posts:2,187 Points:518,190 Joined:Aug 2005	Message Posted: Jul 3, 2009 4:31:43 AM Ignore theawesome1 Report Abuse I agree with METROMAN, if we are swimming in fuel, then why so high at the prumps. How about $1.99 tomorrow then go down. Granted $4.10 for USA last year.
SpruceGuse2 Champion Author Michigan Posts:3,487 Points:1,211,950 Joined:Mar 2006	Message Posted: Jul 3, 2009 4:31:20 AM Ignore SpruceGuse2 Report Abuse There will always be an excuse for the way things are.
matifu Veteran Author Florida Posts:319 Points:79,365 Joined:Mar 2009	Message Posted: Jul 3, 2009 4:30:30 AM Ignore matifu Report Abuse Swimming in gasoline cost too much.
OilerFan Champion Author Tulsa Posts:7,737 Points:1,425,695 Joined:Aug 2005	Message Posted: Jul 3, 2009 4:26:52 AM Ignore OilerFan Report Abuse As long as the government keeps printing more dollars and devaluing the dollar, it'll cost more for things long-term. That includes gasoline.
jimmy123NE Veteran Author Omaha Posts:480 Points:269,740 Joined:Jul 2008	Message Posted: Jul 3, 2009 4:26:40 AM Ignore jimmy123NE Report Abuse What kind of report will come up soon that will make oil prices spike? Hope not, but will probably happen!
Metroman Champion Author Philadelphia Posts:7,142 Points:1,400,515 Joined:Aug 2003	Message Posted: Jul 3, 2009 4:25:23 AM Ignore Metroman Report Abuse If we are swimming in gas supplies then, why is it so high in price.
sherlockMS Champion Author Mississippi Posts:1,349 Points:310,315 Joined:Oct 2008	Message Posted: Jul 3, 2009 4:22:38 AM Ignore sherlockMS Report Abuse gas and diesel need to keep going down
harleydoctor Champion Author Kansas Posts:1,172 Points:682,090 Joined:Sep 2005	Message Posted: Jul 3, 2009 4:17:13 AM Ignore harleydoctor Report Abuse Park the gas guzzler and ride the MOTORCYCLE......
whyus Champion Author Atlanta Posts:4,201 Points:867,220 Joined:Feb 2007	Message Posted: Jul 3, 2009 4:15:05 AM Ignore whyus Report Abuse It dropped 14 cents within a week here.
JadeKY Champion Author Louisville Posts:2,330 Points:465,780 Joined:May 2008	Message Posted: Jul 3, 2009 4:14:51 AM Ignore JadeKY Report Abuse Prices spiked here 20 cents from holiday GREED! Give it a rest!
Gas Slave Champion Author Lansing Posts:1,920 Points:503,200 Joined:Jul 2004	Message Posted: Jul 3, 2009 4:07:09 AM Ignore Gas Slave Report Abuse Keep the demand down.
leeso1 Champion Author San Diego Posts:1,084 Points:156,280 Joined:May 2009	Message Posted: Jul 3, 2009 4:06:16 AM Ignore leeso1 Report Abuse nice story...
goldseeker Champion Author West Virginia Posts:11,259 Points:1,475,170 Joined:Sep 2005	Message Posted: Jul 3, 2009 4:04:45 AM Ignore goldseeker Report Abuse That is great for now, but it only takes a hiccup to drain the pool.
Mark929 Champion Author Oakland Posts:1,729 Points:336,535 Joined:Jul 2008	Message Posted: Jul 3, 2009 3:57:55 AM Ignore Mark929 Report Abuse Prices are stable in the San Francisco Bay Area.
mazdaboy Champion Author Portland Posts:1,619 Points:857,550 Joined:Aug 2003	Message Posted: Jul 3, 2009 3:55:32 AM Ignore mazdaboy Report Abuse Not to mention that people are still losing jobs.
Number43 Champion Author Lexington Posts:2,034 Points:395,645 Joined:Oct 2008	Message Posted: Jul 3, 2009 3:51:18 AM Ignore Number43 Report Abuse Take that you no good greedy Speculators. I hope you lose it all.