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Hurricane Rita: Fuel impact seen to be slight

Published Monday, September 26, 2005

Diesel fuel and gasoline prices should only see a short-term hike at the most in the wake of Hurricane Rita, thanks largely to few Gulf-region refineries suffering major damage from the storm. However, the long-term outlook for diesel prices remains cloudy as winter approaches and diesel production begins to compete with demand from the domestic home heating oil market. David Pursell, a principal with Houston-based Pickering Energy Partners, contends refiners “dodged a bullet” in avoiding major damage from Hurricane Rita as only two major refineries suffered serious damage. In Port Arthur, TX, Valero Energy’s refinery – capable of ...

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