US summer heat, hurricanes may spike fuel prices, oil refiners brace
Mon, Jul 8, 2024 3:53 PM

US summer heat, hurricanes may spike fuel prices, oil refiners brace

A Flip by Avya Verma
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Record heat and hurricanes threaten to test US refiners' resilience, raising the risk of volatile fuel prices. Government forecasters expect up to seven major hurricanes, double the annual average. A major storm could remove up to a million barrels of fuel supply, leading to extended outages or permanent closures, and prices could jump 25-30 cents per gallon.

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