US gasoline and diesel prices are at risk of spiking this summer due to a potentially active hurricane season and extremely hot temperatures that could disrupt refinery production.
U.S. gasoline and diesel prices are set for a more volatile summer this year as an expected busier-than-usual hurricane season and extremely high temperatures could weigh on refinery production , analysts have told Reuters. A higher number of named storms could lead to more refinery shutdowns on the U.S. Gulf Coast , which hosts more than 47% of total U.S. petroleum refining capacity, as well as 51% of total U.S. natural gas processing plant capacity.
Early on Monday, Beryl, which at one point was the earliest Category 5 hurricane on record, made landfall in Texas, bringing heavy rains and warnings of potential storm surge, flooding, and tornadoes. At the time of the landfall, Beryl was a Category 1 hurricane.
Diesel Prices Hurricane Season Refinery Production Gulf Coast Extreme Heat Fuel Prices Beryl Hurricane Energy Information Administration Oil And Gas Industry
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