Gas prices soar after Hurricane Harvey shuts down pipeline


The national average for regular was $2.56 a gallon by late Friday afternoon, an increase of 20 cents in the last week, according to GasBuddy.

The unofficial end of summer has come with the Labor Day weekend, but thanks to the remnants of Hurricane Harvey, gas prices are going up across the country and in Virginia.

AAA said gas prices have already jumped an average of.10 cents a gallon in the last week, and that's only expected to rise.Houston may be almost 2,000 miles away, but we're feeling the impact of Hurricane Harvey here in western MA at the gas pumps.

The numbers are soaring toward a three-year high, but travel experts say drivers are willing to pay the price this Labor Day weekend.

Corpus Christi refiners appear to have survived without major incidents or damage.

Here is the statement from Paxton's office: "The Consumer Protection Division of the attorney general's office received more than 500 complaints today, many of which involve allegations of high fuel prices in Dallas, including amounts ranging from $6-$8 dollars per gallon".

Gas futures shot up more than 10 percent Thursday, the last day of trading for contracts that promised September delivery of gasoline.

Prices have increased by 29 cents per gallon in the past week and 12 cents overnight in Georgia - bringing the state's average to $2.50.

For Virginia, the average cost at the pump has gone up by 16 cents per gallon in the same two days.

"The delicate balance of supply and demand has been tipped in one side and that tends to make the market a little bit more chaotic and gas prices can jump very quickly", he said.

How long will we see higher prices? "It might have a small disruption but I think people are still going to be hitting the road", said Dehaan. I received a memo this morning from one of our gas providers that said 25% of the refineries were still shut down.

The good news is if any gas stations here in Wichita Falls do run out of gas, it will likely only be for a short period of time, and you can probably just go down the street to the next station to get gas. The Colonial Pipeline is the primary provider of gasoline for this region, and was shut down because of tropical storm Harvey.

"AAA does not expect Gulf refineries to be offline for months", he said.