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Refinery Repairs and Shutdowns Means More Pain at the Pump?

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  • Description

    FBN's Jeff Flock on US refineries experiencing repairs and shutdowns.

  • Duration 2:24
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Sounds like well with oil at low levels take a look at what's happening to the national price of gas it's up over thirty cents from a year ago.

Just.

Actually from a month ago this is refinery plants across the country are facing repairs.

And conversion projects -- threaten to push already soaring gas prices.

Hi -- that is more pain at the -- Jeff Flock has the details.

Harry and Whiting Indiana and what exactly is happening there gas.

Had this ship does your body at this refinery in -- ignorant and -- four billion dollar plan.

To convert to be able to process more Canadian crude.

It's the BP oil refinery that perhaps you see right back here behind -- -- could eventually bring prices down.

But in the short term what that -- Has done as -- less supply available because it had a shot part of the refinery down take a look at where prices are right now.

You see the three month you see the run up.

Many refineries around the nation have had either maintenance scheduled maintenance programs are shut downs and if you take a look at they.

At the you know the one year chart you see -- roller coaster -- nature of gas prices for right now the roller coaster is headed up.

Take a look at the -- around the country it's not just this BP refinery here but that -- reading refinery LA -- New Jersey that's gonna be shut permanently.

We've had a refinery got a Port Arthur, Texas the -- Tivo.

Of refinery although -- just I talked to fill before we went on the air and he says he has learned that back.

Could be restarting soon to that be a positive -- but they've had problems with refineries out on the West Coast as a -- -- I just want to show -- a couple of stocks before we get away it makes a lot of sense to be a refiner right now because their margins Iraq.

You think with these problems with these refiners that maybe they have problems but actually no.

Their margins wind up improving Valero for example up 30% the stock year to date.

And analysts say that the increase in earnings is gonna be 246%.

When next they report I'll leave you with -- Sorrell another one that's gonna have a huge.

Increase in earnings when -- next report that's up to 41% year to date.

-- -- here right now don't be an explorer.

Or a producer.

-- and Newsday part of the story that we're seeing this disconnect with what's happening with oil prices and what we're actually seeing at the pump stay warm Jeff -- and poverty probably out there.

Trying to have a little -- -- -- -- later well.

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