Gasoline Futures Jump as Colonial Pipeline Extends Shutdown (1)

The largest gasoline pipeline in the US will remain shut through Friday, prompting East Coast fuel terminals to limit supplies and sending futures to the highest since August.

Colonial Pipeline Co. will keep its Line 1 pipeline shut to investigate a suspected gasoline leak in Georgia, the company said Wednesday. The pipeline, which transports 1.5 million barrels a day of gasoline from Texas to North Carolina, has been closed since Tuesday.

The leak is being investigated on Peg Cole Bridge Trail in Villa Rica, Georgia, according to Paulding County Emergency Management Director Stephen Dooley.

Colonial shutdowns can significantly disrupt fuel ...