More updates have been gathered on the Keystone pipeline oil spill, and how it may affect gas prices. The 2,700-mile Keystone oil pipeline was shut down Tuesday after rupturing near Fort Ransom, North Dakota, spilling an estimated 3,500 barrels of oil in an agricultural field about 60 miles southwest of Fargo. South Bow, the pipeline’s operator, detected a pressure drop and isolated the affected segment. The pipeline, which normally transports 624,000 barrels daily from Canada to U.S. refineries, has a troubled history with 13 significant incidents in 15 years. A company employee heard a “mechanical bang” and a shutdown occurred within two minutes. Energy experts offered mixed opinions on potential impacts. Some predict possible gasoline price increases within days, particularly affecting diesel and jet fuel production due to the loss of heavy crude. Others suggest refineries have sufficient storage to withstand a 2-3 week disruption. The Pipeline and Hazardous Materials Safety Administration is investigating the cause. Environmental officials report no impact to nearby streams or structures.
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