Hurricane Harvey: Counting America's energy cost

Alicia Cross
September 10, 2017

In Massachusetts, GasBuddy said prices for regular unleaded have risen over the past week to a late-afternoon average of $2.73 - 34 cents above last week and the highest all year.

The Department of Energy is reporting that eight Gulf Coast refineries are in the process of restarting, which accounts for about 10% of Gulf Coast refining capabilities.

"I was talking to my wife as I pulled up here and told her to find fuel wherever she can and don't worry about the price", said Addox.

DeHaan estimated it could take weeks or longer before all refineries are back online.

As Hurricane Irma swiftly approaches the state of Florida, residents are preparing for the impact. Spring says. “However, wholesale prices locally have dropped in the last few days and as more Texas refineries return to production, we expect to see pump prices come back down provided no other disruption occurs.”.

Including the change in gas prices in Modesto during the past week, prices Monday were 44.5 cents per gallon higher than the same day one year ago and are 16.0 cents per gallon higher than a month ago. The state average for diesel fuel was up just 7 cents at $2.58.

GasBuddy
GasBuddy

Mayko said several of the Gulf Coast's 20 gas refineries were shut down prior to Hurricane Harvey's landfall as a precaution.

Drivers in all 50 states have seen gas prices go up, with the average reaching $2.69 at mid-morning Friday before ticking down slightly, according to Gas Buddy. "They could get a hotel room, get off the island, and not be part of a traffic jam on I-75". The least expensive gas price averages in Tennessee were in Memphis at $2.47, Johnson City-Kingsport-Bristol at $2.50 and Chattanooga at $2.50.

"RaceTrac is proactively working to mitigate supply issues caused by the effects of Hurricane Irma", said a statement from RaceTrac spokeswoman Liz McIntyre.

Luckily, online resources are available for motorists seeking gas, an increasingly scarce commodity in the area.

"So Chevron, if you're watching me right now, you need to call us and tell us why your prices are inflated in south Florida", Bondi said on Fox News.

Similar to Harvey, there wouldn't be a gasoline shortage in the USA, but there could be an issue with getting gas supplies to impacted regions - especially if Irma causes power outages and makes streets and roads impassable. "Everyone in the USA supply chain has been affected by the price increase and the worry about supply".

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