Gas Prices Spike for Labor Day Weekend After Harvey

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WASHINGTON — Gas prices are spiking during Labor Day weekend and on the heels of Harvey.

In Springfield, most pumps show between $2.35 and $2.37 a gallon.
        
More than 30 percent of the US gasoline refinery capacity is shut down because of Harvey.

AAA says gas prices are on the rise, thanks in large part to the aftermath of Harvey and Labor Day weekend.

As millions of Americans set to hit the roads for Labor Day weekend, because of Harvey, the gas prices are on the rise and, in some places, in high demand.

In North Texas people are waiting in long lines just to fill up their tank, some stations are completely out and others charging as much as $4 a gallon.

“Gas prices are going to go up because of the cut in supply,” Rick Perry, secretary of energy, said.

The effects are spreading across the country

Perry says the record flooding forced at least a dozen major oil refineries out of operation and shut down the main pipeline that carries gas to the east coast.

“Over 30 percent of the production is offline,” Perry said.

Perry ordered the release of 1 million barrels of oil from America’s Strategic Petroleum Reserve to deal with the crisis, but that’s only enough to supply the east coast for about 8 hours.

“To this magnitude, we have not seen in a very, very long time,” Michael Whatley said.

Whatley, executive vice president of the Houston-based company Consumer Energy Alliance, said the priority will be getting fuel to state’s hit the hardest by Harvey and getting the refineries back up and running, which he says, could take weeks.

“We will see prices that are going to go up, you know for a week or for two weeks or something like that until we get the situation with the refineries resolved,” Whatley said.

 

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