More pain pending at pump
August 7, 2012
Get ready, Central Coast — here come higher gasoline prices.
Expectations of petroleum analysts is that the price per gallon soon will rise above $4 here, and this will be due to identifiable reasons, for once. Oil prices are up, higher than $94 a barrel, and now a Chevron refinery fire in the Bay Area ignited Monday and spews vast plumes of black smoke overhead the communities of Richmond and San Pablo. (Orange County Register)
The fire was contained early this morning. However, the economic impact already is being felt, because West Coast refineries are more vulnerable to issues such as debilitating fire, disconnected as it is to the nation’s primary petroleum pipeline supply on the Gulf Coast.
The refinery until now has been producing 16 percent of the West Coast’s daily gasoline consumption.