Suncor announced last week it is temporarily shuttering refining operations in the Denver area, and the move will likely affect your pocketbook. That’s according to the Colorado Wyoming Petroleum Marketers Association.

The late December cold snap damaged equipment at the Commerce City plant and Suncor said it could take weeks to bring the refinery back online.

CWPMA’s Grier Bailey compared the refinery shutdown to Xcel Energy saying 40% of its energy grid was offline. Suncor is the largest supplier of transportation fuel in Colorado, with a capacity to refine 103,000 barrels of crude oil every day, making up to 40% of the state’s supply.

“This is leaving an elephant-sized gap in the supply market,” Bailey said. The degree to which gasoline prices will go up locally depends on the degree to which other refineries can cover the gap while Suncor’s remains closed, Bailey added.

The impact will be felt by consumers, Bailey said, and also by industries including agriculture, skiing and more.

Governor Jared Polis issued a verbal executive order January 1st to activate a State Emergency Operations Plan and his office outlined several measures being taken:

“The Governor has contacted other refiners in other parts of the country to minimize any disruption, and maximize distribution of gas to Coloradans pursuing every avenue to mitigate the impacts of the…