Summer gas supply may take a hit due to refinery maintenance

Oil refineries will be unable to match previous production levels in preparation for summer travel season, according to a report from Reuters.

Crude production is down 8.5 percent from the start of the year as oil refineries plan major plant overhauls for this spring in preparation for new low-sulfur standards.

Those maintenance efforts could impede refineries from scaling up production of motor fuel in preparation for the summer.{mosads}

Susan Bell, a senior associate at energy consultancy IHS Markit, told Reuters an average of 1 million barrels per day of crude oil refining capacity could be offline through June.

Gasoline prices have been steadily rising since the beginning of the year, with the average price at the pump $2.83 a gallon. Still, the U.S. Energy Information Administration is predicting that gas prices this summer will be lower than last summer.

Manufacturers have been revamping refineries in a push to meet new standards for maritime diesel that take effect at the start of 2020.