Chevron Refinery Explosion Drives California Jet Fuel Prices Up 33 Cents
A significant fire and explosion at Chevron's El Segundo refinery in California has led to a jump in jet fuel prices and potential petrol price increases. The refinery supplies a substantial portion of the state's motor fuels and jet fuel, including for LAX.
The incident began with an explosion in a jet fuel unit, which then engulfed the refinery. State and federal safety agencies are now investigating the cause. Fortunately, no injuries were reported, and all personnel were accounted for.
The refinery, with a storage capacity of about 12.5 million barrels, supplies roughly a fifth of California's motor fuels and about 40% of its jet fuel, particularly for southern California and LAX. Local officials advised a shelter-in-place for Manhattan Beach residents until 2 a.m. due to the fire, but no evacuations were ordered.
The fire forced multiple processing units offline, including the catalytic reformer, hydrocracker, and fluid catalytic cracker. This has led to a rise in jet fuel prices by about 33 cents per gallon and potential modest increases in petrol prices due to refinery shutdowns.
In response, California is expected to import more jet fuel from Asian refiners, including those in India, to compensate for the loss of production at El Segundo. This comes as California's refining system faces tighter balances in the coming months due to planned refinery closures.
The fire at Chevron's El Segundo refinery has disrupted California's fuel supply, leading to price increases and potential shortages. Investigations into the cause of the explosion are ongoing, and the refinery is working to restore operations. In the meantime, California is turning to Asian refiners to fill the gap in its jet fuel supply.
Read also:
- U.S. CBP's Operation Plaza Spike Boosts Fentanyl Seizures Along Arizona-Mexico Border
- Tesla's EV Market Share Plummets in Europe, US Competition Intensifies
- Catastrophe at a U.S. Steel facility in Pennsylvania results in the loss of two lives. crucial details unveiled
- Auto Industry Updates: Geotab, C2A, Deloitte, NOVOSENSE, Soracom, and Panasonic in Focus
