+Home | +News | +Weather | +Calendar | +Restaurants | +Education | +Shopping | +Pets | +Travel | +Boating | +Pictures | +Links
Magazine
Subscribe
Editorial
Media Kit
Talk to us

News Jan 9, 2013 - 1:45:40 PM


GasBuddy: Gas inventory soars to highest level since Feb 2011

By GasBuddy.com


Font size: Small Big
Email this article
 Printer friendly page
Share this article:
facebook del.icio.us Yahoo! MyWeb Digg reddit Furl Blinklist Spurl
Buy the "As seen on" mug
For six of the last seven years U.S. retail gasoline prices have risen from Christmas Day to mid-January but this year could run counter to that trend.

“ That’s because of the massive buildup in gasoline inventory just announced by the U.S. Dept. of Energy’s weekly petroleum report. With an increase over the previous month of 16.1 million barrels (+7%) gasoline inventory now exceeds the highest level reached during 2012 and is at the highest point recorded since February 2011,” said Patrick DeHaan, senior petroleum analyst, GasBuddy.com.

“Gasoline inventories ended the year with the highest December level ever, and obviously we’ve added significantly to that, so for that reason we could see many markets remain flat or even decline slightly over the next week to two weeks,” says DeHaan. “You could say it’s the calm before the storm that arrives every spring.”

“Having said that, we are confident that our overall forecast for 2013 and specifically for January will prove accurate, with the U.S. national average projected to be in a range from $3.21 to $3.43, with a median price at $3.29 per gallon, he noted.

Earlier this week GasBuddy released its ‘GasBuddy Fuel Price Outlook 2013’ (http://www.scribd.com/doc/119477611/2013-Forecast) .

GasBuddy operates over 250 similar websites that track gasoline prices at over 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app which has been downloaded over 25 million times to help motorists find the lowest gasoline prices in their area.




© Copyright by NorwalkPlus.com. Some articles and pictures posted on our website, as indicated by their bylines, were submitted as press releases and do not necessarily reflect the position and opinion of NorwalkPlus.com, Norwalk Plus magazine, Canaiden LLC or any of its associated entities. Articles may have been edited for brevity and grammar.







Note: We reserve the right to delete posts at any time if we decide that they are offensive or distasteful.
CURRENT HEADLINES:
Area stage premiere for meet me in St. Louis
Olympic Gold Medalist To Be Honored At 36th Annual MS Dinner of Champions
SHU's Welch College of Business among Princeton Review's best
War Of The Sexes Leaves Connecticut Gov Race Tied, Quinnipiac University Poll Finds
Mystic Aquarium Animal Rescue Team Leaps into Action After Uncovering New Data on Loggerhead Sea Turtles



Top of Page






StamfordPlus.com is part of the Canaiden Online Media Network.
Stamford Plus Online | Norwalk Plus Online | Canaiden.com | Best of Norwalk | Best of Stamford | Hauterfly Magazine | SummerCampPlus.com

Copyright ©2005-2010 Canaiden,LLC All Rights Reserved.