The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 2.8 million barrels last week, maintaining a total U.S. commercial crude inventory of 488.3 million barrels. The commercial crude inventory rose above the upper limit of the average range for this time of year. Tuesday evening, the American Petroleum Institute (API) reported that crude inventories rose by 2.9 million barrels in the week ending January 20. API also reported gasoline supplies increased by 4.8 million barrels and distillate inventories increased by 2 million barrels. For the same period, analysts had estimated an increase of 2.8 million barrels in crude inventories, a rise of 498,000 barrels in gasoline stockpiles and a decrease of 970,000 barrels in distillates. click Read More below for more of the story
National Average Price for Regular Unleaded – Current: $2.229; Month Ago: $2.149; Year Ago: $2.011.
National Average Price for Diesel – Current: $2.439; Month Ago: $2.397; Year Ago: $2.341.