<p>HOUSTON, Sept 12 (Reuters) - The Colonial Pipeline has shut the main gasoline line between Houston and New York due to a lack of supply from Gulf Coast refineries, which have shut or slowed ahead of Hurricane Ike, according to a company statement on Friday.</p>
<p>The Colonial’s distillate pipeline is also shut, the company said.</p>
<p>The Colonial pipeline is the nation’s largest and can flow 2.3 millon barrels of refined products per day. (Reporting by Erwin Seba; Editing by Marguerita Choy) </p>
<p>Inventories last week were reported to be low. Refineries shut down need electricity to run which could take a week or two. So we might have fuel shortages in the southeast, east coast and northeast. My guess is that prices will rise (rationing by price). Hopefully power plants and refineries are up quickly. I read that there are gasoline shortages in Europe too so I don’t expect them to send a lot of it over here and it would take a while to reach here even if they did send it over.</p>
<p>Our prices edged up after Gustav, as our local pipeline comes up from LA and I understand there was some down time on that pipeline due to electrical outages for pumping. And I think that may have been compounded further with Ike, as we didn’t receive any gas this week and none is scheduled until next Thursday now. </p>
<p>Thursday the prices were $3.59 per gallon (about 10 cents higher than they typically should be when looking at other regional markets). They had been that way since Gustav.</p>
<p>Friday, suddenly the prices went to $4.59 as one local convenience store chain basically ran out of gas at its local stations and the panic started setting in.</p>
<p>Saturday the price at the remianing stations with gas went to $4.99.</p>
<p>With no new fuel deliveries by pipeline until next Thursday and no other local markets with spare fuel, I think things are only going to get worse. </p>
<p>Thank goodness I ride the bus to work. Of course, I’m guessing that it will be standing room only next week.</p>
<p>I’m going through the energy and storm reports and am starting to see fuel shortage reports. I told my son that if we might be staying with him at his apartment if there are gasoline shortgages. He’s in the city and we can walk to everything from his apartment. I can always work remotely from there too.</p>
<p>Strange thing is though that diesel here hasn’t budged. It is still about $3.83 a gallon, having dropped about 20 cents in the past month and holding steady through the storm.</p>
<p>I think there may have been some added issues with the switchover from refining summer blend to winter blend that occurred right before the hurricanes started creating havoc. That would be consistent with a steady diesel supply (no changeover). However, I can see the seasonal surge in diesel coming for winter with the heating oil season upon us in a month or 2 in NE.</p>
<p>Because the media inflicted such panic during the day on Friday, there were long lines at gas stations in our area with stations eventually running out of gas to sell (even at high prices). The lines are gone now, but the high prices remain. I just hope that the panic does not mean there will be no gas available at stations for several weeks! While I understand the need to keep the public informed, media pushed our community over the edge in my opinion. Thank you media for your part in creating this mess!!</p>
<p>Yes, it is a very serious issue. I am not making light of the situation, by any means. I just wish the media would be careful about reporting–if you watched what our local stations were doing, you might feel the same way. For now, we must think about ways to conserve. I hope these stations will now provide the public with this type of news reporting!</p>
<p>Goaliedad, if you don’t mind saying, where are you in the south? H will be temporarily (several weeks/months) relocating to the damaged area(s) to work and I’m not looking forward to the fuel bills (taking his truck and travel trailer!)</p>
<p>Be happy. Our traders both domestic and foreign will have have the necessary gas and fuels to the Eastern USA, as soon as they find the money to divert the tankers going to China and India, to the USA. </p>