Hurricane Harvey Will Have Impact on Gas Prices in Capital Region
Hurricane Harvey and its impact on Gulf Oil production will lead to higher prices at the gas pump in the Capital Region.
According to the Times Union, local gas prices in New York's Capital Region will rise as Harvey's floodwaters rise. Prices are likely to rise 5 to 15 cents a gallon over the next couple of weeks according to Patrick DeHaan of GasBuddy.com who also said that "about 15 percent U.S. refining capacity is down." Refineries in Corpus Christi are said to have escaped major damage, but other refineries can be at risk if Harvey moves into Louisiana and the Lake Charles, Baton Rouge, and Mississippi Delta area, all of which have refineries that could be affected. Harvey is now a tropical depression. "Inventories of gasoline are still fairly healthy", according to DeHaan, who also said that gas prices could get back to normal in coming weeks.
Help out the victims of Hurricane Harvey by donating through the American Red Cross here.