Gas Prices To Stay High As Chevron Unit Damaged By Fire To Remain Closed

Experts predict gas prices will stay high while a key Chevron refinery unit remains closed.

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    NEWSLETTERS

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    Gas prices in the Bay Area will likely remain high after a key crude refinement unit will remain closed following an August fire.

    Chevron Corp. said Tuesday that a crude unit damaged by an Aug. 6 fire in Richmond will remain closed for the rest of 2012, according to the Contra Costa Times.

    The Richmond refinery is operating at 60 percent of capacity, Chevron said. That means a decrease of 92,000 barrels per day in refinery capacity, the newspaper reported.

    Experts told the newspaper that by keeping the crude unit closed, gas prices will remain high, the newspaper reported.