The Colonial Pipeline is back at 66% volume, and they are on track to have 85% flow by Sunday.
I guess the Katie Courics of the world are too busy with the bad news to give us any of the good...
This pipeline news is apparently what's driving the wholesale gasoline prices back down--in spite of it being a holiday weekend.
At my last notification (about an hour ago, 1600 EST), the regular no-lead gasoline is projected to be 25 to 30 cents LOWER per gallon on tomorrow's (Saturday's) market.
I'd say that the prices will continue to drop as the pipelines get closer to full production.
But what about the refineries?
I asked one of our fuel terminal managers about the condition of the Gulf Coast refineries, and he said that according to his sources, even if the Gulf Coast refineries can't get totally back up to normal production for a few weeks that refineries in Texas are slated and able to pick up the difference. This of course doesn't square with the heretofore held notion that all of our refineries have been operating at 95+ percent capability in recent months/years. The manager of the Magellan Mainstream Partners terminal in our area says that when the Texas refineries had problems in the recent past that the Gulf Coast locations made up the difference, and that the Texas refineries would be able to return the favor.
So that's the word from here. How much of it's fact will remain to be seen.
The Colonial Pipeline press release link is----> HERE... ...for any interested.
Dan
I guess the Katie Courics of the world are too busy with the bad news to give us any of the good...
This pipeline news is apparently what's driving the wholesale gasoline prices back down--in spite of it being a holiday weekend.
At my last notification (about an hour ago, 1600 EST), the regular no-lead gasoline is projected to be 25 to 30 cents LOWER per gallon on tomorrow's (Saturday's) market.
I'd say that the prices will continue to drop as the pipelines get closer to full production.
But what about the refineries?
I asked one of our fuel terminal managers about the condition of the Gulf Coast refineries, and he said that according to his sources, even if the Gulf Coast refineries can't get totally back up to normal production for a few weeks that refineries in Texas are slated and able to pick up the difference. This of course doesn't square with the heretofore held notion that all of our refineries have been operating at 95+ percent capability in recent months/years. The manager of the Magellan Mainstream Partners terminal in our area says that when the Texas refineries had problems in the recent past that the Gulf Coast locations made up the difference, and that the Texas refineries would be able to return the favor.
So that's the word from here. How much of it's fact will remain to be seen.
Dan
