EIA: US Oil Refining Capacity Down in 2021 for Second Year

The U.S. Energy Information Administration figures showed a capacity decline of 125,790 barrels per day last year.

Erwin Seba, Reuters

Capacity for U.S. oil refiners fell in 2021 for the second year in a row, the most recent government data showed on June 21, as plant shutdowns kept whittling away on their ability to produce gasoline and diesel.

Pump prices are near $5 a gallon nationwide as soaring demand for motor fuels collides with the loss of about 1 million barrels of processing capacity in the last three years due largely to closings to plants that were unprofitable when fuel demand cratered at the height of the COVID-19 pandemic.

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