Gas prices spikes nationally Harvey aftermath crimps supplies
06 September, 2017, 13:52 | Author: Irene Delgado
The average cost for the week hit $2.70 per gallon, still 44 cents more than last week and the highest price recorded locally in two years. But why is gas 37 cents a gallon more than last week in MA, where the only effect Harvey had was a few hours of heavy rain this past Sunday?
The Orange County average price is 13.3 cents more than one week ago, 19.4 cents higher than one month ago and 42.9 cents greater than one year ago.
The average Tuesday morning in IN was $2.50 a gallon, while the national average was $2.64.
AAA found regular selling for as low as $2.42 and as high as $2.84 per gallon. Other prices around the Hub City are at $2.70 a gallon.
Gas prices in Rhode Island have surged this week due to the impact of Hurricane Harvey. "We have seen the pace of increases at the pump greatly slow down", DeHaan said.
Additionally, refinery employees are returning to work as power is restored through areas affected by the hurricane, at which point prices should begin to drop, AAA has said. The twist - of the economic knife - is that's where gas prices stand as Floridians fill tanks and gas cans as Hurricane Irma poses a threat.
"AAA does not expect refineries to be offline for months, as early reports indicate minimal to no significant damage to Corpus Christi and Houston refineries", said Jeanette Casselano, AAA spokesperson, in a press release.
"The refinery shutdowns are particularly hurting the eastern part of the USA", said Dan McTeague, senior petroleum analyst for gasbuddy.com.
AAA also said crude production is strong and since the high demand of the summer driving season officially ended Labor Day, prices should not continue to increase. "Hopefully, things will start to normalize and get back to where we need to be".
"Every state has seen average gas prices rise".
The Associated Press said Tropical Storm Irma, which is projected to hit SC on Monday, may also spike gas prices, though it is not a safety threat in the region. "The situation promises to be challenging if Irma threatens the US mainland".
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