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Philadelphia Energy Solutions shut down refinery that exploded, likely raising gas prices



The company announced the decision after the refinery erupted into a massive fire and explosion last week. It's the 10th largest refinery in the US and refines about 335,000 barrels of crude oil a day, according to the company's website.

AAA spokeswoman Jenifer Moore said the closest of the largest oil refinery on the East Coast will likely have an impact on gas prices in and around the region.

"While it is too early to know how much prices can increase and how long, motorists in the region will likely continue to see a fluctuation in pump prices – especially leading up to the busy Fourth of July travel period, "Moore said in a statement.

The fire has made it" impossible "to continuous operations, CEO Mark Smith said in a statement. At least 1

,000 workers will lose their jobs

"Today, Philadelphia Energy Solutions made the difficult decision to shutdown the refining complex. While our teams include some of the most talented people in the industry, the recent four at the refinery complex has made it impossible for us to continue operations, "Smith said.

" We are grateful that the four resulted in only a few minor injuries. I want to thank our employees for their hard work and dedication and to thank the Philadelphia community for their support. "

Mayor addresses loss of jobs

Philadelphia Mayor Jim said he was extremely disappointed for more than one thousand workers who would immediately be affected by this closure, as well as other businesses that are dependent on the refinery operations. "

The cit The plans and support of the refinery's closure, Kenney said.

PES Holdings, a unit of Philadelphia Energy Solutions and owner of the refinery, has experienced some financial challenges. the past. It filed for bankruptcy in January 2018. Though it emerged from bankruptcy eight months later after restructuring debt, filings show it still faces challenges.

Authorities still investigating cause of explosion

The fire started with an explosion on June 21 from a vessel of butane and propane, eventually engulfing the refinery and raising air quality concerns.

It wasn't extinguished until the following afternoon.

Five people suffered minor injuries in the incident. Authorities are still investigating the cause of the explosion.


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