Colorado refinery outage is causing higher gasoline prices in Rocky Mountain region

The only petroleum refinery in Colorado shut down in late December after sustaining damage from extremely cold weather, and it is expected to remain offline for months to repair, the refinery owner and operator, Calgary-based Suncor, stated. The refinery outage may tighten the supply of gasoline and diesel in Colorado and, more broadly, the Rocky Mountain region, leading to higher retail prices for both. From the end of December to February 20, the average retail gasoline price increased 51% in Colorado and 27% in the Rocky Mountain region, according to our Gasoline and Diesel Fuel Update, compared with a 9% increase in the United States overall.