East Coast Could See a Greater Spike in Gas Prices than the Rest of the U.S. Because of Shortages

As if fuel prices aren’t already high enough, drivers on the East Coast may end up paying more at the gas pump than the rest of the country because of potential gas shortages as a result of the shutdown of many refineries in the region.

A CNN report found that almost 50 percent of the refining capacity on the East Coast has already either closed or will close down in the coming months.

Sunocco dropped its Philadelphia-area Marcus Hook refinery in December and is now trying to sell an adjacent facility as the company says its refining business has been losing $1 million a day for the past three years. ConocoPhillips also closed a refinery in the same area last fall.

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