Energy

Spot gas shortages may worsen if pipeline doesn’t reopen soon

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Image showing the Colonial Pipeline Houston Station facility in Pasadena, Texas (East of Houston) taken on May 10, 2021.

Francois Picard | AFP | Getty Images

If the Colonial Pipeline is not back in business by the weekend, prices could continue to rise at the pump and there will be broader localized fuel shortages across the southeast and mid-Atlantic regions.

Gasoline stations that could not get enough fuel were already closed in some states, and prices jumped overnight, by as much as 10 cents or more per gallon in some areas.

“This turns into a crisis by the end of the week, if it’s not resolved, particularly with Memorial Day coming,” said John Kilduff, founding partner of Again Capital….



Source cnbc.com

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