Thu
Aug 31 2017
05:45 am

According to this Reuters article, Colonial Pipeline is about to shutdown it's pipelines feeding diesel, jet fuel and gasoline to the northeast due to hurricane Harvey causing outages at major supply points. But could this cripple the whole nation?

(link...)

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R. Neal's picture

Up 20 cents per gallon around

Up 20 cents per gallon around here in the past week.

JaHu's picture

They need to move the

They need to move the refineries away from the coast.

fischbobber's picture

Then....

The oil companies couldn't manipulate the world markets. They'd rather have shortages and price spikes.

Factchecker's picture

A spox for the oil and gas

A spox for the oil and gas industry was interviewed on MarketPlace (or Morning Edition?), I think on Monday morning, and sternly asserted that the refineries would be back up within a day or two. "We know storms," or something about as arrogant.

Elsewhere I saw a piece about how the Gulf area has used the time since Katrina to raise the operating portions of refineries so they can stay up and running. Not sure how well that has worked out for them.

fischbobber's picture

Overnight

Gas is up by .35 cents.

It will start dropping when Beaumont refinery goes back online.

Tamara Shepherd's picture

*

In August, Kroger offered shoppers a digital coupon good for 300 bonus fuel points, so I loaded it to my card and was able to pay pretty much the same price pre-Harvey yesterday. This was for a single fill-up, of course.

Maybe keep an eye peeled for any second opp like this in September.

JaHu's picture

I went into Walmart this

I went into Walmart this morning and was in there literally for less than 2 minutes. When I walked in the door their gas price was $2.49, when I walked out the price had risen $2.59. On average, millions of drivers will pay more than $30 a month this month than last month. I don't see how the fuel companies can justify the increase.

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