US Gulf gasoline soars on evacuations

11 September 2008 22:38  [Source: ICIS news]

HOUSTON (ICIS news)--The price of US Gulf coast gasoline soared on Wednesday as Texas drivers filled up their tanks while fleeing ahead of Hurricane Ike.

US Gulf coast m-grade unleaded gasoline was up $1.83/gal after a volatile trading day saw premiums jump to $2.00 over the October reformulated gasoline blendstock for oxygenate blending (RBOB) contract. Prompt unleaded gasoline was at $4.6075-4.6100/gal, according to global chemical market intelligence service ICIS pricing.

Trade activity was said to be frenetic during the day as refineries along the Texas Gulf coast began closing down ahead of Hurricane Ike.

Shell reported about 30% of its branded stations in Houston and the surrounding area were out of gas by mid-afternoon on a spike in demand amid widespread evacuations.

“These station outages are temporary and sporadic as tank drivers and station operators continue to work diligently to refill stations,” Shell said in a statement. “Deliveries have been prioritised along evacuation routes and major arteries, but have been slowed as a result of evacuation traffic.”

(Additional reporting by Brian Ford)

To discuss issues facing the chemical industry go to ICIS connect

By: Steven McGinn
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly