Thursday, September 14, 2017

Gasoline Prices Continue to Soar Following Hurricane Harvey


The inventory of US motor gasoline dropped by the most on record as suppliers drew from tank storage to replace gallons lost from oil refineries sidelined by Hurricane Harvey.

Inventory declined by 8.4m barrels to 218.3m barrels in the week ended September 8, the Energy Information Administration reports. The fall was sharpest on the US east coast.

Harvey affected up to a third of US refinery capacity as it struck Texas energy hubs such as Corpus Christi, Houston and Port Arthur.

Four Gulf coast refineries were still shut down because of Harvey on Wednesday, amounting to capacity of more than 700,000 b/d, according to the US Department of Energy. Last week Gulf coast refiners ran at 60.7 per cent of their operable capacity, compared with 92.4 per cent a year ago.

-RW


3 comments:

  1. Obviously we need unchecked third world immigration to get these refineries back online.

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    Replies
    1. Because that's totally related. Retarded lol

      Delete