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WNY Gas Prices: Sunoco Refineries Closing?

11:19 AM, Mar 6, 2012   |    comments
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  Since Sunoco announced plans to get out of the oil refining business and close its two Philadelphia area refineries if they can't find a buyer, there has been plenty of concern about the impact on Western New York.

  Some energy experts say supplies for diesel and heating oil could especially tighten up and gasoline prices could climb even higher. The U.S. Energy Department said Northeast fuel markets could be quote "significantly impacted."

  After claiming poor profit margins, Sunoco closed its Marcus Hook refinery in December. And come July, Sunoco may close its much larger Philadelphia Refinery which can produce more than six million gallons of gasoline a day. That is said to be the largest on the East Coast.

Now Bloomberg, Reuters and the Philadelphia Inquirer report the owner of United Refining Energy Corporation, which operates Kwik - Fill gas stations, may consider a bid for the Philadelphia refinery. The Chairman of United Refining will only reportedly say they have an interest in the Sunoco Philadelphia refinery and they are looking at it.

United Refining operates a much smaller refinery in Warren, Penna.

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