1,700+ Texas Gas Stations Lack Electricity
(Bloomberg) -- More than 1,700 gas stations are without electricity on Friday because of the Texas power disaster, threatening to push pump prices even higher with key refineries in the state still shut.
The total represents more 12% of the stations in Texas, according to Patrick DeHaan, head of petroleum analysis for retail fuel tracker GasBuddy. Among the largest cities, the most outages are concentrated in the Dallas-Fort Worth area.
Gasoline prices at the pump in Texas are at $2.27 a gallon, up 6 cents from a week ago, according to auto club AAA. The national average clocks in at $2.60 a gallon, the highest since November 2019. Some of the biggest refineries in Texas are expected to take weeks to resume operations, with many plants having to repair damaged equipment, suggesting it may be tough, and costly, for Texans to fuel up.
#Texas gas station outages continuing to rise, now 12.5%, or roughly 1,763 stations without fuel or power. Some metro outage percentages:
DFW 24.5%
SAT 23.3%
HOU 15.8%
AUS 19.3%
— Patrick De Haan (@GasBuddyGuy) February 19, 2021
The freeze also pushed the Gulf Coast cash-market gasoline trade higher. Cash gasoline blendstock for Colonial Pipeline was at $1.82 a gallon on Friday, the highest since July 2019.
Yet, gasoline demand is still weaker with fewer drivers hitting the roads with the cold temperatures following icy conditions. U.S. fuel consumption last week was at the lowest seasonally in 20 years, also due partly to the Covid-19 pandemic depressing demand, government data show.
© 2021 Bloomberg L.P.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- Libya's Surprise Oil Minister Change Throws Spotlight on Output
- Oil Seals Quarterly Gain in Tightening Market
- Oman Sees Increasing Ship-to-Ship Transfers of Russian Oil Bound for India
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension