Monday, 18 June, 2018

Word of gas shortages prompts run on Texarkana gas stations

Oil prices gyrate as market grapples with US hurricane damage Gas prices expected to rise because of Harvey's impact
Preston Stone | 03 September, 2017, 13:38

Refineries throughout the Gulf Coast shut down or reduced production a week ago in anticipation of the high winds and heavy flooding from Harvey. "With this whole tip in the balance in which the U.S.is in a deficit of gas production, and the price of gas is soaring - that's drawing the eye of gas refineries around the globe".

"PES, while continuing to supply local markets in the Mid-Atlantic, has been able to step in and provide supply to the Southeast and continues to look at ways to make more available to the market".

Meanwhile, the average price of regular unleaded gas in IN going into Labor Day is $2.52, up from $2.36 at the beginning of August and $2.27 at the same time a year ago, AAA reports. West Palm Beach has the most expensive gas in Florida with prices coming in at $2.50 a gallon followed by Miami at $2.45 per gallon and Ft. Once refineries are back to full operation, we should expect to see gas prices fall towards the end of September.

AAA said prices could reach the highest level of the year.

The devastation of the storm had caused several oil refineries along the Texas Gulf Coast to close as of Tuesday morning, including five in the Houston region and six in the Corpus Christi region, according to a USA Today report. Three more refineries in Port Arthur, Texas, followed suit on Thursday, bringing the total sidelined US capacity to about 20 percent.

"The pipeline temporarily suspending supply does not mean shortages", Wright said.

LSU leads BYU 14-0 at halftime
Orgeron said he prefers to keep those matters "in-house", but said he expects a number of guys to return next week. Orgeron added that any player now being disciplined would not travel to New Orleans for the BYU game.

According to the department, 400,000 barrels of sweet crude oil and 600,000 barrels of sour crude oil will be delivered via pipeline to the Phillips 66 refinery in Lake Charles, Louisiana, which has not been bit by the unprecedented tropical storm.

It's important to note that AAA expects this to a noticeable yet short-term spike in gas prices.

Some major oil refineries along the Gulf Coast are now offline.

Gasoline prices at the pump are surging after Colonial Pipeline, which supplies fuel to wide areas of the eastern USA, has shut down - not because of storm damage but because the refineries that supply it are not producing fuel.

Although Harvey keeps getting weaker, meteorologists say more floods are expected.

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