Gas Prices Expected to Rise After San Fransisco Refinery Fire
Gas prices are expected to sky rocket very soon. After a fire broke out this past Monday night at a Chevron Refinery in the San Fransisco bay area, analysts urge drivers to buy their gas now. Bob van der Valk, petroleum industry analyst, has over 50 years of experience in the oil industry. Valk predicted gas prices would rise to $4 during this week and $4.50 by Labor Day. Ridiculous right?!!?Valk said, “Prices are going to spike as fast as that rocket that left Mars rover on the planet.” The Chevron Refinery in the San Fransisco area is (or was ) the largest producer of oils on the West Coast, producing up to 240,000 barrels of crude oil daily. The refinery not only sends oils to Chevron stations all over the United States, but also unbranded stations. Gasoline, jet fuel, diesel fuel and lubricants are all produced by the Chevron refinery.
The fire started when a diesel leak ignited the refinery into a blaze; however, officials are still investigating what caused the leak. In addition, about 200 people had to seek medical help complaining about shortness of breath. The company does not know how production will be affected, although by the looks of everything it does seem our gas prices will rise significantly.
Well, high gas prices are not so unfamiliar to any of us. Unfortunately, this is something we cannot control and we have to buy our gas. Lets just hope when gas prices do rise, they will also fall quickly. Fill up your tanks now!