Latest: Analyst: Refinery fire unlikely to affect gas prices

FAN Editor

The Latest on a refinery fire near Los Angeles (all times local):

Continue Reading Below

10:40 a.m.

A petroleum industry analyst says a fire that erupted at the West Coast’s largest oil refinery is unlikely to have an effect on gas prices.

No injuries were reported in the blaze Tuesday at the Chevron El Segundo Refinery south of Los Angeles. Crews kept the fire from spreading to storage tanks and had the flames out within about a half-hour.

Chevron has not said what caused the fire or detailed the extent of the damage.

Fires at such refineries have had implications for gas prices. But Patrick DeHaan, senior analyst with Gas Buddy, said Wednesday that initial information indicates that will not be the case with this blaze.

Continue Reading Below

DeHaan says the refinery was not running at full capacity because the facility had recently shuttered most operations for regular semi-annual preventative maintenance.

Leave a Reply

Next Post

Corporations to keep tax break lost by millions of Americans

WASHINGTON –  Millions of Americans would lose a prized tax break under President Donald Trump’s sweeping revamp of the tax code, but corporations would get to keep it. Continue Reading Below The Republican proposal would eliminate the federal deduction for state and local taxes, a widely popular break used by […]