Hurricane Harvey Could Send Gas Prices Higher
Hurricane Harvey won’t send heavy rains and winds to Florida, but it will likely push gas prices higher.
Triple-A spokesman Mark Jenkins says the storm could cause significant interruptions at production facilities.
“So to give you an idea nearly half of refining capacity for the entire United States stretches along that coast from Texas to Louisiana,” Jenkins says. Now one third of refining capacity is directly in the path of hurricane Harvey.”
“What that means for us is we could see, depending on the extent of the storm and its aftermath, gas prices rising anywhere from 10 to 30 cents, possibly even higher than that.”
Harvey is expected to hit Texas Friday, and forecasters believe it could intensifying to a category three before making landfall.
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