Staff Reports
In a fiery turn of events, a massive fire broke out at the Marathon Petroleum’s Garyville refinery in Louisiana, forcing the plant to shut down. This refinery, being one of the largest oil refineries in the US, is not something to be taken lightly. The fire, which was extinguished on Monday, still has the facility remaining closed, according to NOLA.com. To add to the chaos, there was even a two-mile radius evacuation order.
Massive Fire Shuts One of the Largest Oil Refineries in the US Causing Gas Prices to Soarhttps://t.co/FeCkDCh5Cz
— The Daily Fetched (@DailyFetched) August 29, 2023
Marathon Petroleum didn’t waste any time when it came to safety. “Out of an abundance of caution, the facility began a shutdown process of units closest to the fire this morning,” they said in a statement. Safety is their top priority, and rightly so.
Incredible new aerial video shared with WBRZ shows an up-close look at the fire raging at the Marathon refinery in Garyville, Louisiana.
Evacuation details and more here: https://t.co/fjhpHH6jFW pic.twitter.com/m4hd7m7utu
— WBRZ News (@WBRZ) August 25, 2023
Oil prices are flat but refining cracks are coming in. Natural gas prices are up after Australian LNG facility strikes appear more likely. A fire at Marathon's Garyville refinery on Friday caused diesel to rip 16cpg higher. #OOTT
— StoneXEnergyKC (@EnergyKc) August 28, 2023
New video shows the fire at the Marathon Petroleum refinery in Garyville remains intense. @FOX8NOLA pic.twitter.com/eTerA3tjjQ
— Zack Fradella (@ZackFradellaWx) August 25, 2023
Unfortunately, all of this has led to a surge in future prices for gasoline and diesel fuel. Diesel futures were a shocking 4.8 percent higher, reaching a price of $3.31 a gallon. This is the highest price at the close of a day since January 26th. And let’s not forget, this is all happening at the third-largest refinery in the US, so the impact will be felt far and wide.
Despite the chaos, it’s important to note that the fuel tank itself was not on fire. Justin Lawrence, the human resources manager for the plant, clarified this at a news conference. It seems like the tank contains a naphtha product, which is used to make gasoline. The fire is surrounding the tank, not inside it.
This incident serves as a reminder of the delicate balance between safety and the economy. We must always prioritize the well-being of our workers and communities, but we must also consider the impact on gas prices and the American people. It’s not an easy balance to strike, but it’s necessary to keep our country running smoothly.
