The media fear mongering over the current gas shortage due to the pipeline shut down this week is causing people in New Jersey to start worrying. The chances are, New Jersey will have nothing to worry about. In fact, the slowdown elsewhere could even help New Jersey.
There’s a reason the Colonial pipeline starts in New Jersey. That’s because it’s home to the Bayway Refinery owned by Phillips 66. The first stop on the pipeline is the PBF refinery in Paulsboro.
Gas stations in New Jersey don’t rely on the pipeline, they get their deliveries from the local refineries. In fact, the two New Jersey refineries could become the most rewarded beneficiaries in the crisis according to Forbes magazine.
Shipments from New Jersey are expected to be trucked further south than normal as President Joe Biden has relaxed rules limiting the number of hours per day truckers can drive until the crisis ends.
Fuel prices today are at $2.97 on average, rising about 25% since Biden’s inauguration.