While gas prices soar to record levels, many U.S. refineries that make and sell gasoline are going broke. Nearly 50% of the refining capacity on the East Coast has either shut down or may shut down within the next few months. If gas shortages develop due to the closed refineries, East Coast drivers could face higher prices than they otherwise would later this year. Sunoco , which closed its Philadelphia-area Marcus Hook refinery in December and is trying to sell another facility nearby, said its refining businesses has been losing $1 million dollars a day for three years running.