With refinery closure, gas prices expected to rise slightly

Mike Dougherty
June 26, 2019 - 8:38 pm

Mike Dougherty/KYW Newsradio


PHILADELPHIA (KYW Newsradio) — Gas prices are likely to go up a little because of the Philadelphia Energy Solutions refinery closure.

Several factors could have an impact on prices at the pump. Jana Tidwell with AAA Mid-Atlantic said they are looking at who steps up to backfill the production, how much it costs to bring that fuel here and, as always, the price of crude.

“All of those factors will go into what gasoline prices look like, not just here in the Philly five-county area, but in the northeast region as a whole," Tidwell said. "But AAA does not expect that it will be a massive increase.”

Related: Mayor confirms Philadelphia Energy Solutions will shut down within month

At this point, she said it may only be about a 5 cent per gallon increase, which is good news for drivers. Most people are ready to roll with the punches.

“I live in South Philadelphia," one man said. "I work in Wilmington, Delaware. It’s about a 26-mile one-way trip. I just went to a smaller car anyway for gas prices.”

While PES did account for about 27% of East Coast refining capacity, Tidwell said she is confident other refineries will step up, and it won’t take long.

"This is not a panic situation. This is not a $4 per gallon gasoline situation. It will likely be a short-term, minor, mini increase in gas prices here in the region in the coming weeks."