say what you want about ethanol, the gasoline refiners have long known about the change. the system is faltering.
Local Stations Run Out Of Gasoline
Thursday, April 20, 2006
Several local gas stations ran out of fuel on Thursday as gas prices also soared in three East Coast states.
Shortages were reported in Delaware, New Jersey and Pennsylvania on Thursday afternoon.
An NBC 10 news team was at a Wilmington, Del., gas station on Thursday afternoon, where reporter Bill Baldini informed drivers pulling up to the pumps that the station was on empty.
Closer to home for NBC10.com, a Luk Oil station just blocks from our station was out of gas as news trucks hit the street to report the Thursday afternoon news. Stations on the Admiral Wilson Boulevard in New Jersey and in several Pennsylvania areas are also out of fuel, or only selling premium fuel, AAA told NBC 10.
AAA spokeswoman Cathy Rossi told Baldini that the shortages were due to "logistics."
She said that a switch from MTBE to ethanol as a fuel additive is causing the shortages, and that more ethanol was in transit to refinieries.
Rossi said the shortages were expected to be temporary.
By temporary, AAA and other experts said the shortage situation could be for as long as 30 days. The news was unwelcome to drivers who saw a big jump at the gas pumps overnight. On Thursday morning, NBC 10 reported that prices at some local gas stations had hit $3 per gallon.
An NBC 10 news van stopping in Conshohocken, Pa., saw gas selling for $3.09 for a gallon of regular unleaded at a local station.
Don't expect those prices to go down in the near future.
Overseas on Thursday, crude oil prices hit a new record intraday high of $72.49 after weekly data showed a drop in U.S. gasoline stocks.
This is raising worries that refiners don't have an adequate inventory cushion ahead of the peak summer driving season.
The previous record intraday price, set Wednesday, was $72.40 a barrel.