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DOE report bullish, retail prices may fall in some areas

GasBuddy Blog -- Surprise, surprise. The DOE report today was quite bullish on many fronts, pushing oil prices and gasoline futures up almost immediately. Prices have since fallen back to hold on to small gains. In its Weekly Petroleum Status Report, the DOE outlines higher demand for oil products, lower gasoline and distillate inventories, and crude inventories gaining a respectable amount.

Crude inventories rose 1.4 million barrels while gasoline and distillate fuels fell a combined 5.1 million barrels, an amount that was larger than I had expected. The number may reflect refiners eager to move winter-spec material as temperatures begin to warm.

Also included in the report was demand data that showed motorists increasing appetite for...

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Submitted Mar 10, 2010 By: PD

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honda0105 Champion Author Tallahassee Posts:10,157 Points:592,775 Joined:Nov 2008	Message Posted: Mar 12, 2010 9:38:21 PM Ignore honda0105 Report Abuse time to get the ever widening lazy rear ends off the couch and start putting some elbow grease into making stuff in the US again. Only way to restore our economy.
honda0105 Champion Author Tallahassee Posts:10,157 Points:592,775 Joined:Nov 2008	Message Posted: Mar 12, 2010 9:36:39 PM Ignore honda0105 Report Abuse great.. more specutraitor fodder so that the economy keeps sucking further down the drain and leaving the US in the wake of speedboat China. When will folks wake up...?
djgunrunner Champion Author Salt Lake City Posts:4,623 Points:1,346,190 Joined:Apr 2005	Message Posted: Mar 12, 2010 2:41:57 PM Ignore djgunrunner Report Abuse The DOE is part of the administration. Do you trust the administration?
OHMS Champion Author Orange County Posts:7,786 Points:873,885 Joined:May 2005	Message Posted: Mar 12, 2010 2:35:47 PM Ignore OHMS Report Abuse doe reports are full of bull, alright; Doe Needs a buck like lipstick needs onions. no surprise; no surprise
jbcol1 Champion Author Virginia Beach Posts:1,345 Points:213,605 Joined:Sep 2005	Message Posted: Mar 11, 2010 4:57:04 PM Ignore jbcol1 Report Abuse Sorry folks, but I am on my soapbox....... I don't know about all of you but, the more I read the news stories about gas prices and oil "futures", the madder I get. Come on America, it's time we put a stop to being used and abused. Let your legislators know that you are not going to stand for it anymore. Let them know that THEIR job is at stake. They put us in the position that OUR jobs are at stake... We CAN do the same to them. They work for us, remember??? Time we remind them of that. Darn it. I am MAD!!!!
fleabite Champion Author Raleigh Posts:11,935 Points:2,247,310 Joined:Apr 2004	Message Posted: Mar 11, 2010 2:17:53 PM Ignore fleabite Report Abuse Unemployment continues to rise - Obama doesn't get it - things are not looking good.
MRED3 Champion Author Jacksonville Posts:2,059 Points:404,395 Joined:May 2009	Message Posted: Mar 11, 2010 2:12:52 PM Ignore MRED3 Report Abuse Same old news.
ebowMA Veteran Author Boston Posts:298 Points:387,185 Joined:Apr 2008	Message Posted: Mar 11, 2010 2:03:55 PM Ignore ebowMA Report Abuse Oh come on. If it's bad news, Obama is ruining the country. If it's good news, he's faking everything and ruining the country. Blah blah blah.
Jarod13 Champion Author Virginia Posts:2,741 Points:606,870 Joined:Oct 2008	Message Posted: Mar 11, 2010 1:50:02 PM Ignore Jarod13 Report Abuse I just wonder who President Obama is applying pressure on to give us the impression that our economy is starting to rebound and make his case that he and the Democrats have had a positive impact on America's economy. Since unemployment numbers are still increasing by the week and Congress is forever requesting unemployment benefits extensions, I don't see how the DOE can release a bullish report on many fronts. All that I see coming out of the White House and the Capitol is a bunch of hot air and nothing to show for it. President Obama, I believe that you won the election and stomping the campaign trail is something from the past -- it's time to stay in Washington and start doing the work that the people want you to do, not what "you" want to do.
traindude Champion Author Virginia Beach Posts:3,126 Points:745,885 Joined:Jun 2007	Message Posted: Mar 11, 2010 11:58:10 AM Ignore traindude Report Abuse gee thats great
jwalkerh Champion Author Louisiana Posts:1,965 Points:526,810 Joined:Oct 2008	Message Posted: Mar 11, 2010 10:57:04 AM Ignore jwalkerh Report Abuse We all know financial recovery will take many years and those who are jobless will continue to struggle and may never recover,
SUV2009 All-Star Author Orlando Posts:955 Points:230,425 Joined:Oct 2009	Message Posted: Mar 11, 2010 8:47:18 AM Ignore SUV2009 Report Abuse Here we go again. Same old same old.
clermont40miles Champion Author Cincinnati Posts:4,533 Points:769,120 Joined:Apr 2008	Message Posted: Mar 11, 2010 8:43:51 AM Ignore clermont40miles Report Abuse Bullish my foot! The fallacy that prices are connected to the supply/demand curve is astounding. Oil is GLUTTED. Refiners have substantially CUT production. Demand is DOWN in the largest energy user of the world -- USA. Until speculation game is stopped, prices will go to whatever heights they can until the economy is destroyed -- again & further. Only idiot speculators given free reign can see bullishness in the report. Any, and I mean ANY, excuse is used to do what they want: raise prices. When the house of cards collapse, great will be the fall of it.
gasman50 Champion Author Portland Posts:3,729 Points:1,398,065 Joined:Nov 2005	Message Posted: Mar 11, 2010 8:41:14 AM Ignore gasman50 Report Abuse Hang on ....Here we go again
MUSTANGSRUS Champion Author Ontario Posts:4,539 Points:961,545 Joined:Sep 2006	Message Posted: Mar 11, 2010 8:29:27 AM Ignore MUSTANGSRUS Report Abuse Maybe the DOE should just shut up. Higher prices for oil and gas are going to slow down any recovery of the world economy.
Gassed01 Champion Author Toronto Posts:1,616 Points:816,225 Joined:Jan 2006	Message Posted: Mar 11, 2010 8:26:02 AM Ignore Gassed01 Report Abuse Pump prices on their way up for the summer.
I10Express Champion Author San Antonio Posts:3,513 Points:624,695 Joined:Nov 2008	Message Posted: Mar 11, 2010 8:24:47 AM Ignore I10Express Report Abuse Prices are jumping up here but then spring break starts this weekend so it's just the normal distributor / retailer gouging.
MacGyver_1701 Champion Author Indiana Posts:6,834 Points:1,557,475 Joined:Feb 2005	Message Posted: Mar 11, 2010 8:23:49 AM Ignore MacGyver_1701 Report Abuse This report seems to manipulate numbers to support its own speculative agenda.
lkozark Champion Author Missouri Posts:2,267 Points:529,580 Joined:Jul 2007	Message Posted: Mar 11, 2010 8:21:34 AM Ignore lkozark Report Abuse After a $.16 jump last Friday, the price has trickled down $.05 over the week.
grandmacbc Champion Author Buffalo Posts:1,539 Points:499,305 Joined:Oct 2008	Message Posted: Mar 11, 2010 8:20:19 AM Ignore grandmacbc Report Abuse Since DOE is a goverment agency and they too are competing for tax dollars in the annual budget which will insure their continued employment . . . . so I find them like the politicians and statisticians . . . . they'll tell you what ever it takes to survive.
Tnerbeel Champion Author Houston Posts:3,559 Points:739,210 Joined:Mar 2007	Message Posted: Mar 11, 2010 8:19:20 AM Ignore Tnerbeel Report Abuse Doing nothing but going up here
cv Champion Author Raleigh Posts:10,064 Points:2,251,630 Joined:Oct 2003	Message Posted: Mar 11, 2010 8:19:14 AM Ignore cv Report Abuse More speculation will naturally cause price rises for oil products, nothing in sight will change this.
thedennis64 Champion Author Ohio Posts:1,015 Points:783,370 Joined:Aug 2003	Message Posted: Mar 11, 2010 8:16:34 AM Ignore thedennis64 Report Abuse Any old excuse to raise prices will do.
Cruiser340 Champion Author Grand Rapids Posts:7,292 Points:1,778,410 Joined:May 2004	Message Posted: Mar 11, 2010 8:16:30 AM Ignore Cruiser340 Report Abuse some areas around here are starting to drop, but thats after a huge jump last week.
FuelOilOH All-Star Author Cleveland Posts:997 Points:544,785 Joined:Oct 2007	Message Posted: Mar 11, 2010 8:15:15 AM Ignore FuelOilOH Report Abuse If you have the time and interest you can invest and maybe make some money in the commodities. I think it's one step below being a speculator!
tomok Champion Author Portland Posts:17,892 Points:1,329,485 Joined:Aug 2006	Message Posted: Mar 11, 2010 8:14:14 AM Ignore tomok Report Abuse When there is a captive consumer - OPEC, big oil, refiners and those speculators will continue to ‘stick it’ to the consumer somehow, someway.
SaltyDogMA Champion Author Massachusetts Posts:1,495 Points:439,425 Joined:May 2008	Message Posted: Mar 11, 2010 8:14:06 AM Ignore SaltyDogMA Report Abuse Oil will rise or fall based on the strength of the dollar, not what some report guesses may happen.
DieselKat Champion Author Tennessee Posts:1,619 Points:1,376,935 Joined:Oct 2005	Message Posted: Mar 11, 2010 8:13:15 AM Ignore DieselKat Report Abuse Everyone thinks they know, but they don't.
SpruceGuse2 Champion Author Michigan Posts:4,703 Points:1,455,040 Joined:Mar 2006	Message Posted: Mar 11, 2010 8:12:50 AM Ignore SpruceGuse2 Report Abuse I hate games and this is all a big game that I can't avoid.
throttle Champion Author Maryland Posts:7,672 Points:1,617,680 Joined:Jul 2004	Message Posted: Mar 11, 2010 8:12:39 AM Ignore throttle Report Abuse Maybe we ought to stop issuing so many re4ports.
Skipper52 Champion Author Massachusetts Posts:2,356 Points:594,225 Joined:Oct 2008	Message Posted: Mar 11, 2010 8:11:36 AM Ignore Skipper52 Report Abuse Good news drives the price up. Bad news drives the price up. I need to invest in oil.
TAT36 Champion Author Florida Posts:1,608 Points:306,860 Joined:Sep 2009	Message Posted: Mar 11, 2010 8:10:51 AM Ignore TAT36 Report Abuse was there ever any doubt. Can't tell what's up and what's down.
must87searcher Champion Author Maryland Posts:3,971 Points:773,055 Joined:Apr 2008	Message Posted: Mar 11, 2010 8:09:29 AM Ignore must87searcher Report Abuse There are possibilities for change. Even with a lot of information, there may be some missing, which can lead to unexpected changes.
Spetsnaz Champion Author Dayton Posts:1,515 Points:537,315 Joined:May 2006	Message Posted: Mar 11, 2010 8:08:34 AM Ignore Spetsnaz Report Abuse We might be increasing appetite, but you raise it to near $3 a gallon, and you will see the appetite go away. We, Americans are sick of this speculation crap.
DustyHorse Champion Author Virginia Posts:1,350 Points:475,385 Joined:Oct 2008	Message Posted: Mar 11, 2010 8:08:24 AM Ignore DustyHorse Report Abuse Gasoline is going up every day here in Virginia. It is currently way overpriced. I think these commodity traders are shooting themselves in the foot by running up prices. They are only hastening the change to alternate energy.
badbonita Champion Author Syracuse Posts:1,007 Points:337,765 Joined:Jul 2008	Message Posted: Mar 11, 2010 8:07:41 AM Ignore badbonita Report Abuse "This indicates to many analysts, including myself, that while the economy remains weak, consumers are again increasing their consumption of oil based products." Fuels for cars, planes and other transportation modes are not the only thing that consumes oil.
enigma09 Rookie Author Dayton Posts:66 Points:279,095 Joined:May 2009	Message Posted: Mar 11, 2010 8:07:40 AM Ignore enigma09 Report Abuse prices still going up since we are now in a "recovery", just another cycle of speculation........
PENNYPINCHR Champion Author Twin Cities Posts:2,454 Points:1,656,390 Joined:Jul 2001	Message Posted: Mar 11, 2010 8:07:27 AM Ignore PENNYPINCHR Report Abuse All that matters is how much of my paycheck goes to filling my tank.
reb4 Champion Author Chicago Posts:7,184 Points:807,720 Joined:Sep 2004	Message Posted: Mar 11, 2010 8:05:21 AM Ignore reb4 Report Abuse current prices are too high for economic conditions...
ricebike Champion Author New Jersey Posts:4,373 Points:899,330 Joined:Oct 2005	Message Posted: Mar 11, 2010 8:05:17 AM Ignore ricebike Report Abuse thanks for another useless article/ blog we all know it's going to go UP
dan30thz28 Champion Author New Jersey Posts:1,077 Points:1,016,775 Joined:Feb 2006	Message Posted: Mar 11, 2010 8:05:11 AM Ignore dan30thz28 Report Abuse I don't think it's going to help our prices. They will climb regardless.
Cuzilla Champion Author Indianapolis Posts:8,638 Points:1,515,690 Joined:Sep 2005	Message Posted: Mar 11, 2010 8:03:16 AM Ignore Cuzilla Report Abuse Prices will fluctuate but the long trend is UP! Prepare now for the coming storm.
FunkyPMonkey Champion Author Detroit Posts:3,461 Points:807,495 Joined:Jun 2006	Message Posted: Mar 11, 2010 8:02:36 AM Ignore FunkyPMonkey Report Abuse This is too hard do believe...
mysub Champion Author Las Vegas Posts:4,123 Points:1,326,765 Joined:Apr 2006	Message Posted: Mar 11, 2010 8:01:08 AM Ignore mysub Report Abuse zornave, you hit this one right on the head.
ironbox_sara Champion Author Albany Posts:4,525 Points:1,258,250 Joined:Mar 2006	Message Posted: Mar 11, 2010 8:00:19 AM Ignore ironbox_sara Report Abuse Give me a break.
torch347 All-Star Author Indianapolis Posts:575 Points:460,445 Joined:Jul 2007	Message Posted: Mar 11, 2010 7:57:40 AM Ignore torch347 Report Abuse They need to tell their story walking away from us.
Buck_on_Bass Champion Author Tennessee Posts:2,609 Points:563,715 Joined:Jul 2007	Message Posted: Mar 11, 2010 7:55:42 AM Ignore Buck_on_Bass Report Abuse Billy44bo is right on the refinery issue. Refinery utilization dropped which contributed to the draw on gasoline and distillates and the build in crude stocks.
goalie1950 Champion Author Phoenix Posts:1,425 Points:286,800 Joined:Oct 2009	Message Posted: Mar 11, 2010 7:55:23 AM Ignore goalie1950 Report Abuse Once again, the economic principles of supply and demand do not apply when it comes to oil and gas pricing. What a crock ...
zornave Champion Author Louisville Posts:13,886 Points:2,204,520 Joined:Jul 2001	Message Posted: Mar 11, 2010 7:54:06 AM Ignore zornave Report Abuse The key element in this statement is 'bull'.
SwampDonkeyME Sophomore Author Maine Posts:243 Points:49,525 Joined:Nov 2008	Message Posted: Mar 11, 2010 7:52:22 AM Ignore SwampDonkeyME Report Abuse API: This just in, The DOE has speculated that the unemployed will be driving more due to the fact of nonexistent jobs in their local areas, forcing them to drive further each week, thus creating more demand which is bullish for the market. Film at 11:00!