Rise in Fuel Prices Expected After Refinery Fire

Rise in Fuel Prices Expected After Refinery Fire

After the fire burned out a key section of the largest oil refinery in U.S., prices of gas in West Coast are expected to increase up to $4 per gallon, as analyzed by the experts.

The company and the state inspectors are working together with the U.S. Chemical Safety Board team, which is part of the investigation of the oil spill in Gulf of Mexico. Tests were made to see if entering the unit is safe.

There will be five investigations that will be conducted separately to know the cause and, most especially, the effects of the incidence that happened on Monday night at Chevron’s Richmond refinery.

Dr. Daniel Horowitz, which is a member of the chemical board, claimed that the accident is very important because of the fact that it damaged a huge part of the refinery and it will affect the production and prices of fuels.

As reported by GasBuddy.com, regular price of gasoline has increased from $3.86 for every gallon on Tuesday to $3.94 during Thursday.

According to Sean Conney, Chevron’s spokesman, there were several factors that affect the rise of fuel prices, not just the fire incident alone.

Conney added that gasoline are still produced but in lesser amounts.

The emergency response of Chevron and other concerns by the community are being evaluated by the inspectors.

Posted by James Fried on Sunday August 12 2012, 12:01 PM EDT. Ref: CNN. All trademarks acknowledged. Filed under Featured News, Nation. Comments and Trackbacks closed. Follow responses: RSS 2.0