When will gasoline costs go up after the Suncor refinery shutdown?

Denver (KDVR) – It has been a number of days for the reason that Suncor refinery in Commerce Metropolis was shut down after two staff had been injured, and now oil consultants say gasoline costs are about to rise.

Grier Bailey with the Colorado Wyoming Affiliation of Petroleum Merchants mentioned he expects costs to begin rising someday within the subsequent seven to 10 days.

The Suncor refinery will probably be closed for months, and Bailey says it accounts for 35 to 40% of the gasoline and diesel market right here.

Bailey says different suppliers try to fill the gaps with current saved stock.

“The vast majority of that comes by pipeline and rail, however pipelines are solely so huge, and you may solely push a lot gasoline by them,” he mentioned.

The affect, he mentioned, may very well be totally different for branded versus unbranded gasoline stations.

“If they seem to be a Sinclair station, a ConocoPhillips station, a Shell station, these will probably be barely higher than a few of our generic companions,” Bailey mentioned.

He added that it’s tough to know precisely when costs will leap and by how a lot.

“It is exhausting to guess. It’s extra based mostly on what suppliers can do and the way far they might help to bridge that 40% of the gasoline provide hole. We won’t await that to be a sustainable transition,” mentioned Bailey. “I imply, principally what you are doing is these suppliers are taking fuels from different markets and serving to us right here in Colorado within the brief time period.”

Bailey mentioned there is not any motive to panic about shopping for as a result of Gov. Jared Polis has provided some regulatory assist to maintain the provision coming.


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