Fidelity bank banner Bayelsa State banner
Petrol shortage hits America, fuel prices go up

By News Express on 02/09/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 916


United States has been hit by petrol or gasoline shortage as the effect of Tropical Storm Harvey and the flood it brought to Texas and environ disrupted production on the Gulf Coast.

Retail U.S. gasoline prices rose 2.8 percent from Friday to Saturday as refineries warned customers about the fuel-supply shortage.

They were at $2.59 a gallon, according to motorists advocacy group AAA. It represents a 16.7 percent rise in the average price from a year ago.

Prices have risen more than 17.5 cents since Aug. 23, before the storm began.

Average prices in Texas, the epicenter of the storm, rose more than 3 percent from Friday to Saturday, and are up 12 percent from a week ago.

Refiner Motiva has warned customers along the route of the largest U.S. fuel pipeline to prepare for shortages after Harvey shut refineries and cut supply to the line, said a source at a fuel distributor supplied by Motiva.

Harvey shut refineries that can process up to 4.4 million barrels per day (bpd) of crude. The plants shut down include Motiva’s 603,000 bpd facility in Port Arthur, Texas, the largest refinery in the country.

Nearly half of the U.S. refining capacity is in the Gulf Coast, a region with proximity to plentiful crude supplies including Texan oil fields and also Mexican and Venezuelan oil imports.

“The refineries were built on the Gulf Coast with the idea that we’re going to import,” said Sandy Fielden, director of oil and products research at Morningstar in Austin, Texas, “That’s why we’re having problems today because that’s where they were all built.”

The reduction in fuel supplies has forced the Colonial Pipeline, which supplies fuel from refineries near the Gulf of Mexico to the U.S. Northeast, to reduce supplies.

Convenience store and gas station chain Circle K, a big buyer from Motiva, said the company was working with a limited supply.

Some crude oil pipelines have restarted operations. Magellan Midstream Partners announced late Friday that it resumed operations on its BridgeTex and Longhorn crude oil pipelines. The two pipelines transport around 675,000 barrels per day (bpd) of West Texas crude oil into East Houston.

The company says it expects to resume service on its Houston crude oil distribution system over the weekend.

U.S. crude production continues to stall following the storm. As of Friday, volume of crude production still shut-in had declined to about 153,000 bpd, down from 324,000 bpd just two days ago.


 

Source News Express

Posted 02/09/2017 8:46:45 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Ekiti fuel marketers strike: Give peace a chance,...

Northern youths, Igbo meet in Kano over quit...

Nigerian visa now to be obtained in 48...

Benue School of Nursing bounces back after reaccreditation...

DAWN Commission charges South West states to key...

Ethiopia declares state of emergency

Collapse of Forex market stalls $200m Diaspora fund...

Nigeria likely to face Ghana for qualification in...

Rivers PDP accuses APC of plotting another postponement...

Court freezes Osun State Government accounts

Igbo Awards students essay competitions to hold Oct...

Obama, other world leaders mourn famous novelist Gabriel...

 

Latest News Rivers APC 2019 Guber: A critical examination of forces and factors at play, By Eze Chukwuemeka Eze An Ode to Peter Obi at 57, By Onukwugha Osuji Umeh threatens to expose Okorocha Heads to roll as panel submits report on alleged NSITF N6.2b fraud Archbishop of Canterbury (Buhari’s ally) laments attacks on Nigerian Christians, Anglican Archbishop Amaechi seeks public opinion on performance, speaks of desire to serve Nigerians better Niger Delta leaders reject PIGB, insist on PIB Senate approves Buhari’s N348bn subsidy fund Governors meet over FAAC deadlock, minimum wage Pay us off for new carrier to succeed - Ex-Airways chief FG must domesticate Stockholm Convention, Rome statute on Environment to attract foreign direct investment — Dogara Benue APC publicity secretary quits, accuses party of neglect

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (362,571 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (358,689 views) Shameless Genevieve Nnaji exposes breasts in public (287,089 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (235,539 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (214,844 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (212,692 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (186,723 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (168,658 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (156,385 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (152,905 views) Lagos plane crash: Journalist releases victims’ names (147,753 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (138,967 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (52) Business & Economy (3,355) Business Verdict (45) Columnists (888) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (516) Features (615) Global Business Monitor (285) International (2,141) Interview (157) Live Commentary (28) Love Matters (127) News (37,258) Opinion (1,024) Pidgin (10) Politics (5,609) Religion (785) Sports (1,612) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

FRANCE vs CROATIA 4-2 Highlights & Goals 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement