PHILADELPHIA (AP) — AAA says gasoline prices may increase after the announcement that a Philadelphia oil refinery will close after a devastating fire.

Spokeswoman Jana Tidwell says motorists in the Mid-Atlantic region will likely see modest price increases at the pump leading into the high-demand summer travel season.

The markets research company FactSet reported that gasoline futures prices spiked Tuesday night after the first news of the refinery’s possible closure. Prices remained high Wednesday.

Kevin Book is managing director at Clearview Energy Partners. He says the refinery has been an important source fueling transportation in the region.

Analysts say the amount of gasoline that will be lost from the refinery is sizable but can easily be made up by imports from other regions and countries.