United States Department of Transportation
i
Energy markets : refinery outages can have varying gasoline price impacts, but gaps in federal data limit understanding of impacts.
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2009-07-01
[PDF-283.23 KB]
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Alternative Title:Refinery outages can have varying gasoline price impacts, but gaps in federal data limit understanding of impacts
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Abstract:In 2008, GAO reported that, with
the exception of the period
following Hurricanes Katrina and
Rita, refinery outages in the United
States did not show discernible
trends in reduced production
capacity, frequency, and location
from 2002 through 2007. Some
outages are planned to perform
routine maintenance or upgrades,
while unplanned outages occur as a
result of equipment failure or other
unforeseen problems. GAO was
asked to (1) evaluate the effect of
refinery outages on wholesale
gasoline prices and (2) identify
gaps in federal data needed for this
and similar analyses.
GAO selected refinery outages from
2002 through September 2008 that
were at least among the largest 60
percent in terms of lost production
capacity in their market region and
lasted at least 3 days. GAO
developed an econometric model
and tested a variety of assumptions
using public and private data.
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