Rising Gas Prices Expected after Harvey

posted by Alan McBride -

Harvey has dealt a damaging hammer-blow to Texas, and is still hounding the coast of that state as a tropical storm.

Repercussions of this storm are expected to be felt at the gas pumps in Florida, according to AAA Auto Club Group.

Mark Jenkins, a spokesman for AAA, said Hurricane Harvey hit a major supply line for gasoline in Florida and along the eastern seaboard.

Multiple refineries and drilling rigs had to be evacuated ahead of the storm, and the Houston Ship Channel was closed.

"There remains a lot of uncertainty in the market," Jenkins continued. "Uncertainty of the extent of the damages, and how long before operations are fully restored."

The upshot of it all is that drivers should expect higher gasoline prices this week. 

It's still too early to know how much prices will rise, but analysts say a minimum of 10-30 cents would not be a surprise.

Florida gas prices averaged $2.31 on Sunday. The state average is 6 cents more than this time last week. 

The most expensive gas price averages in Florida are in West Palm Beach-Boca Raton, Tallahassee, and Miami.

The least expensive gas price averages in Florida are in Jacksonville, Orlando, and Tampa-St. Petersburg-Clearwater.

Officials say one out of every five barrels of gasoline produced in the United States has been threatened by Harvey , and that more than a quarter of refining capacity in the U.S. Gulf Coast was offline because of the storm.

Five oil rigs and 105 out of a total of 737 manned platforms were evacuated because of Harvey, according to authorities.

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