Fears the shutdown of a major fuel pipeline would cause a gasoline shortage led to some panic buying and prompted US regulators on Tuesday to temporarily suspend clean fuel requirements in three eastern states and the nation’s capital. A ransomware attack Friday on Colonial Pipeline forced the company to shut down its entire network, though … Continue reading Pipeline Shutdown Sparks Fear Of US Fuel Scarcity
Cars line up to fill their gas tanks at a COSTCO at Tyvola Road in Charlotte, North Carolina on May 11, 2021. Logan Cyrus / AFPFears the shutdown of a major fuel pipeline would cause a gasoline shortage led to some panic buying and prompted US regulators on Tuesday to temporarily suspend clean fuel requirements in three eastern states and the nation’s capital.
The Environmental Protection Agency on Tuesday announced a one-week suspension of clean air rules in an effort to ease supply issues. Colonial Pipeline said it hoped to have its system back online by the end of the week, but the shutdown raised fears the shortages would cause gasoline prices to spike just ahead of the US Memorial Day holiday, the unofficial kickoff to the summer travel season.The EPA move, effective through May 18, suspends clean air rules that require urban areas to use fuel with additives like MTBE, which makes gasoline less polluting but also more expensive.
While some gasoline stations along the east coast are running out of fuel, he cautioned against overreacting.
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