Michael Giberson The Houston Chronicle reports on the difficult financial position of many U.S. refineries. Crude oil prices are up for refineries relying on international markets, but U.S. consumers are moderating their gasoline consumption at higher prices and so refiners find their margins to be getting squeezed. A good article, but right at the end … More Refiners are getting squeezed by high crude oil prices and faltering U.S. demand, so let’s increase their costs!
Michael Giberson A study by the Government Accountability Office has concluded that gasoline refinery outages tend to have small effects on prices. While large scale weather events like Hurricane Katrina and Rita did result in large prices increases, such events are rare, the study said. In other findings: Typical unplanned refinery outages tended to increase … More Refinery outages generally have small effects on gasoline prices, GAO says