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Gas Prices Nationwide Shoot Up From Storm Impact

31 August 2017, 01:48 | Melanie Burgess

TV news crew helps rescue stranded truck driver during Tropical Storm Harvey

TV news crew helps rescue stranded truck driver during Tropical Storm Harvey

Greater Victoria gas prices are expected to remain relatively stable despite anticipated hikes in the eastern part of the country after hurricane Harvey forced many refineries on the Texas Gulf Coast to shut down.

The average price for a gallon of gas Wednesday was $2.404, up from $2.378 Tuesday, according to the American Automobile Association (AAA).

AAA reports approximately one quarter of the oil refining capacity in the Gulf coast is offline.

Gasoline prices are rising as a direct result of Tropical Storm Harvey, and drivers filling up at pumps around the country could soon see an uptick of 15 to 25 cents per gallon.

This price rise has put the average cost of gasoline in Bulloch County at $2.28 per gallon, according to the Gasbuddy website. "Prices will likely rise almost countrywide heading into Labor Day". Emergency crews have made 3,000 water rescues since Harvey arrived late Friday, and government officials have warned that flooding could become worse as more rainfall hits the region.

AAA notes that price increases do not now reflect a shortage of gasoline supplies in the Gulf Coast region, but rather distribution capability. Conde said prices have risen 23 cents since the first of the month.

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"The impact could linger for several weeks or longer, depending on how long it takes Texas refiners to return to normal operations", said DeHaan.

Nine-tenths of that US export capacity is sited, or will be, on the Gulf coast.

He continued, "As gas prices go up refineries around the globe are seeing incentives to send gas to the United States".

"The busy summer driving season is wrapping up and right now gas prices in the Carolinas appear only slightly higher than they were last week", said Wright. "It's still really early to tell what this is going to mean for long-term supply", said Denton Cinquegrana, chief oil analyst at Oil Price Information Service, of the shutdowns.

The lowest city gas prices Monday at most stations in Greer were $2.07 - $2.09. Tuesdays are recommended for "topping off" because while prices are not the cheapest, they're still usually pretty good.

AAA found regular selling for as low as $2.11 and as high as $2.39 per gallon.



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