Hurricanes Aren't the Only Reason Gas Prices Are High

Of the critical national assets that took a hit, the crux of the U.S. refining industry suffered dramatically. The spot price of ultra-low sulfur diesel (ULSD) promptly increased by 10%, while that for gasoline and jet fuel increased by 25%. All three prices remain about 10% higher than before the hurricanes, in part due to regulatory constraints that extend the duration of such price disturbances and highlight the challenges facing the aging American refinery fleet.