New York Gasoline Shortage Brews on EU’s Russia Ban Fallout
- Europe likely to have less spare supply for US driving season
- Seasonal fuel stockpiles already are at lowest since 2013
Photographer: Daniel Acker/Bloomberg
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New York and much of the East Coast are at risk of a gasoline shortage this summer as the European Union’s ban of Russian fuel threatens to choke off the backup supplies the US relies on during peak driving season.
Seasonal gasoline stockpiles already are at the lowest in about a decade, and heavy winter maintenance at refineries may further trim inventories. The EU ban on Russian oil-product imports starting Feb. 5 will strain the region’s feedstock supplies, limiting how much gasoline the bloc can make for itself or the US East Coast, which increasingly relies on transatlantic imports in the summer.