Wednesday, January 7, 2015

The Gasoline Price Crash Continues

The Energy Information Administration released its weekly report Wednesday on the status of petroleum inventories in the United States.

Here are some highlights via GasBuddy:

Crude oil inventories decreased by 3.1 million barrels to a total of 382.4 million barrels. At 382.4 million barrels, inventories are 24.5 million barrels above last year (6.8%) and are well above the upper limit of the average range for this time of year.

Gasoline inventories increased by 8.1 million barrels to 237.2 million barrels. At 237.2 million barrels, inventories are up 10.2 million barrels, or 4.5% higher than one year ago.

Here are the current lowest prices in major cities:

Wichita, KS1.770-0.003
St. Louis, MO1.773-0.050
Santa Fe, NM1.774-0.024
Kansas City, MO1.785-0.007
Colorado Springs, CO1.801-0.024

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