Gas prices are expected to rise to their highest prices in more than a decade, with holiday travel demand and the impacts from Hurricane Harvey given as the primary reasons for the increase. And this is not limited to affected states as oil and gas prices are expected to rise due to the shutdown of Texas' Gulf Coast.
The devastation of the storm had caused several oil refineries along the Texas Gulf Coast to close as of Tuesday morning, including five in the Houston region and six in the Corpus Christi region, according to a USA Today report. This compares with the national average that has increased 3.9 cents per gallon in the last week to $2.36/g, according to gasoline price website GasBuddy.com.
"According to the Oil Price Information Service, we are looking at a 5-15 cent jump in gas prices", she said. But that number should rise, since the Texas Gulf Coast is home to almost a quarter of the country's gasoline production.
People are looking for alternative means of transportation to save money while gas prices are high. "Time will tell as to when refineries can return to full operational status, and weather Oklahoma will experience any significant price increases at the pump".
The storm has already knocked out 22-percent of the Gulf of Mexico's oil-refinery capacity.
Waskevich was optimistic, however, that any Harvey-related gas price spike "shouldn't last long".
Moses' Return Excites Super Eagles Fans More Than Mikel's, Ighalo's
The Eagles will host Cameroon on September 1 before travelling to Yaounde for the reverse fixture in September 4th. The team will continue the training at the venue of the match ahead of the cracker on Friday.
The result will be higher prices, but it should be just a one- or two-week problem, Joswick said. If the refineries take more than a few days to come back online, motorists in the Carolinas and other regions across the country could see increases at the gas pumps.
Hurricane Harvey, which is now pummelling Texas with rain, is to blame for the uptick in gas prices in the Montreal area.
AAA Northeast said Monday its latest weekly survey found self-serve, regular selling for an average of $2.26 per gallon.
Right now, the average price of gas in Virginia is $2.19.
While most people who travel for Labor Day do so by vehicle, the airline industry is also seeing an impact from the storm.
Right now, the statewide average for a gallon of regular unleaded gas in SC is $2.10 and in North Carolina is $2.22.