Triad Gas Prices On The Rise Because Of Hurricane Harvey

Gas Prices on the Rise Due to Hurricane

GREENSBORO, N.C. -- Hurricane Harvey is already impacting what you pay at the pump and the rise in prices isn't slowing down, according to petroleum analysts.

As of Tuesday afternoon, the average price for a gallon of gas in Greensboro was $2.28, up 8 cents from Friday. 

"The effects of the storm, Hurricane Harvey, have not been completely felt," said Dan McTeague, Senior Petroleum Analyst at gasbuddy.com. "You can expect prices to keep going up at least 10 to 15 cents, likely starting tomorrow."

McTeague is expecting gas to increase another 10 to 15 cents next week as well.

Hurricane Harvey shut down some of the biggest oil and gas refineries in the country which are located along the Texas coast.

Because of those closures, daily gasoline refining is down 25 percent and the flow of gas has been disrupted across the country.

"I still think the story is unfolding. We could see prices go much higher for much longer given the extent of the damage, which as of yet is not completely and totally understood," McTeague explained.

Since North Carolina Carolina has two major pipelines that supply gas from the Gulf Coast, we're sure to see the impacts, according to McTeague.

"If you're passing by a gas station, don't panic of course but you will want to fill up because prices are definitely going to be going up," he said.

 

Copyright 2017 WFMY


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