Average gas price in DFW up 16 cents overnight

“Gas prices are going to go up because of the cut in supply”, Rick Perry, secretary of energy, said. And price spikes are even more severe in some Southern states.

Until the spike following Harvey, Buffalo’s gas prices were relatively stable.

In the Ft. Lauderdale metro area, that same gallon cost $2.53 on Friday, near a dime less on Thursday and $2.32 at the start of the week.

The nationwide price at the pump has set a new high for 2017, topping $2.50 for the time in two years.

It’s still a guessing game, but AAA says the prices should rebound in the short-term.

He said the national average could get as high as $2.75 a gallon in a worst case scenario.

In addition, prices typically increase this week every year as demand is expected to go up with thousands of travelers hitting the road for the holiday weekend.

In all, it’s creating an environment of potential ripple effects throughout the country.

As the storm barreled into the Texas coast, a string of oil refineries closed, temporarily dropping US refinery capacity. “The bottleneck is at the refining level”. The Colonial Pipeline, which ferries gasoline, diesel and other fuels to the East Coast, remains open from Lake Charles, through Baton Rouge and onward east. But there will likely be continued pain at the pump as the numerous refineries along the Texas Gulf Coast struggle to get back online. Prices are rising across the country in the aftermath of Harvey.

In the Miami metro area, the price of unleaded was $2.54 a gallon on Friday, according to AAA. But that price did not yet fully reflect Harvey’s impact. Railroad Commissioner Ryan Sitton said Texas has a supply of more than 230 million barrels of gasoline, and drivers should simply wait three or four days to fill up if they can. “The markets are backing off but we’ll see price increases”.

“We do see some distribution snags”.

Another driver from Garrison, New York, Martin Friedman, told PIX11, ” It would be be nice if the gas prices come down instead of going”.

Refineries in the northeast part of the nation are barging supplies to the Southeast, Mexico and South America to offset Harvey-induced shortages, Casselano said.

“No one has got extra gasoline to sell and those who might have extra to spare for the desperate USA market, well they’re going to be demanding a premium”, he added.

“People trying to get away from this hurricane, they need their money”, says House.