Virginia among states with biggest gas prices increases post-Harvey

"I feel so sorry for the families who have been displaced by that hurricane in Texas", Palmer said.

If you own a vehicle in Montreal, you may be rather unhappy in the weeks to come, because gas prices have gone up and will probably continue to do so. Gasoline prices in the city ranged from $2.29 per gallon to $2.45.

"Our area of the United States gets 50 percent of our supply from the Gulf Coast region and this region consumes more than half of the gasoline in the country", she said.

Those prices are expected to go back down once Hurricane Harvey subsides.

According to Barclays bank on Tuesday "around 2-3 million barrels per day of refining capacity is offline or in the process of shutting down" due to Harvey. Gas prices could increase from 5 to 25 cents per gallon or more overnight or in the next several days, according to Carolinas AAA.

Gas stations will eventually have to respond by jacking up prices on consumers, at least temporarily.

More news: North Korea fires possible ballistic missile

The high-demand summer driving season officially ends on Monday, Labor Day, further easing production pressure. "Despite the country's overall oil and gas inventories being at or above five-year highs, until there is a clear picture of damage and an idea when refineries can return to full operations status, gas prices will continue to increase".

"While the full impact of Hurricane Harvey on gulf coast refineries is still unknown, the outages that have already occurred, will prompt gas price increases of approximately 15-25 cents for many states east of the MS", said Martha Mitchell Meade, Manager Public and Government Affairs for AAA Mid-Atlantic.

Gasoline prices continued to climb nationwide Wednesday, as Hurricane Harvey forced more refineries to shut down and put a critical pipeline in jeopardy.

"There remains a lot of uncertainty in the market", Jenkins continued.

This morning, the West Texas Intermediate crude oil benchmark is trading near $46 per barrel, down four dollars from a month ago and about a dollar less than a year ago. "Wildlife will also become more active as dusk arrives sooner, so make sure to scan the roads for animals when traveling".

(Copyright © 2015. All Rights Reserved.)
 
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