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Colonial Pipeline to temporarily close gasoline transport pipeline

03 Septembre 2017

The Colonial shutdown is unlikely to cause any widespread shortages on its own, according to GasBuddy.

The head of the Texas agency that regulates the oil and gas industry is urging people to wait three or four days to fill their cars and trucks with gasoline if they can. "It's just been insane". Others charged well over $3.

Prices jumped at least 10 cents a gallon in 24 hours in Texas, Ohio, Georgia and the Mid-Atlantic states, AAA reported Friday. The supply crunch prompted QuikTrip, one of the nation's largest convenience store chains, to temporarily halt gasoline sales at about half its 135 stores in the Dallas-Fort Worth area.

"The supplier of the product would need to get approval from the customer who is receiving the product", said Malesia Dunn, a Colonial spokeswoman, by telephone.

But supply isn't the problem, the Texas' oil and gas regulator said, even though refiners have been crippled by Harvey.

Several East Coast refineries have run out of gasoline for immediate delivery as they sent fuel elsewhere, and concerns over shortages ahead of the U.S. Labor Day extended weekend were mounting.

Multiple news outlets are reporting gas stations running out of gas.

The Texas attorney general's office said anyone seeing gas prices of $4 or higher should take pictures and report the stations as price-gouging.

Wednesday's inventory report showing US crude stockpiles dropped to the lowest level since January 2016, along with a rise in gasoline demand, "point to a fairly healthy picture still", McGillian said in a telephone interview.

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Gas prices across America have soared in the wake of Hurricane Harvey.

The United States is short of fuel.

Gasoline prices have risen more than 17.5 cents since August 23, before the storm began.

His advice: "Try to have a sense of calm". Margins for converting Brent crude oil in semi-complex refineries in northwest Europe are set to average $8.20 a barrel in September, according to WoodMac's refining and oil product markets research director Jonathan Leitch.

Almost one-third of the nation's refining capacity is along the Gulf Coast from Corpus Christi, Texas, to the Lake Charles, La., area, and about one-quarter of the Gulf Coast's oil refining capacity was taken offline, according to the Oil Price Information Service.

Vast swaths of the US are heavily dependent on the 5,500-mile Colonial pipeline for gasoline and any interruption can cause prices to spike and send retailers scrambling for supplies. The company said it would shut down the line that transports 40 percent of the South's gasoline on Thursday.

West Texas Intermediate crude for October delivery climbed $1.26 to $47.22 a barrel on the New York Mercantile Exchange.

Abbott's press office didn't immediately respond to email or phone requests for comment.

Colonial Pipeline to temporarily close gasoline transport pipeline