Gasoline Slips as Gulf Coast Refiners Fire Up Shuttered Plants
- Valero, Flint Hills, Citgo plants in restart process
- U.S. government releases crude to three Gulf Coast refiners
Has Gasoline Peaked Post Hurricane Harvey?
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Motor fuel prices declined as traders assessed the supply implications of refinery restarts following hurricane-induced shutdowns.
Gasoline futures tumbled 1.8 percent in New York following August’s 25 percent rise as Gulf Coast refiners including Valero Energy Corp. and Citgo Petroleum Corp. fired up shuttered equipment. The Environmental Protection Agency eased anti-pollution rules for 38 states and Washington D.C. to allow more varieties of gasoline to flow between markets. Meanwhile, the Energy Department approved the release of 4.5 million barrels of government-owned crude from the Strategic Petroleum Reserve to help keep refineries running.