Scorching Summer Heat Is Curbing Gasoline Output and Adding Pain at the Pump
- Refiners forced to cut operations by 2% due to excessive heat
- High temperature partly to blame for rise in refinery blips
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Record-breaking summer heat is forcing fuelmakers to cut back operations, just as dwindling supplies are causing gasoline prices to surge around the world.
The hottest-ever June and July prompted refiners to curtail oil processing by at least 2% globally as long stretches of triple-digit heat posed a threat to operations, according to Vikas Dwivedi, a global oil and gas strategist for Macquarie Group.