Gas prices soar in Harvey's wake

Disruption of Gulf Coast oil production and fear of fuel shortages have pushed gas prices higher in the wake of Hurricane Harvey. NBC's Chris Pollone reports.

As Americans hit the road for Labor Day weekend, their wallets are taking a hit at the gas pump.

Prices are up about 16 cents over last week, with the average cost per gallon now $2.52.

Analysts say Harvey is to blame.

"Supply is down with 15 refineries being shut down, and capacity being off about a quarter, but we are also seeing a spike in demand," says the National Association of Convenience Stores' Jeff Lenard.

A major east coast pipeline is also shut down.

That 5,500-mile pipeline normally carries more than 3-million barrels of gasoline, diesel, and jet fuel from Houston, through the Southeast and Mid-Atlantic to New Jersey, serving several major cities including Atlanta, Washington D.C. and New York.

Colonial Pipeline hopes to have it back online Sunday.

© 2017 NBCNEWS.COM


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment