Hurricanes Drive Gas Prices to a Two Year High
Gasoline prices are on average 20 cents higher than they were just a month ago
2y ago
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America lost around 17% of its total oil refining capacity due to damage caused by Hurricane Harvey. Not only did the storm cause damage and flooding to oil refineries, they caused the temporary loss of shipping channels and damaged or shutdown several key oil pipelines, resulting in a two year record high in gasoline prices.
The average gallon of gasoline is around 20 cents higher today than it was before the recent round of hurricanes and America’s drivers are feeling the pinch at the pumps.
Arm and Leg Gas Prices via the libertarianrepublic.com
Fortunately, Jim Zarroli of NPR tells us that the refineries are finally starting back up and will soon be at full capacity. You can listen to his story on NPR here:
Chris Isidore of CNN Money recently interviewed Tom Kloza, chief oil analyst for the Oil Price Information Service. Currently the average price for a gallon of gas is $2.65, Kloza predicts that the price of a gallon of gas will soon be around $2.25, and will continue to fall so that by Christmas time American’s will be paying less than $2.00 a gallon!
Gas Pump prices via the Innovative Advisory Group
What do you think Nation? Have you felt that pinch at the pump? Are you looking forward to good long weekend drive once gas prices fall back down?
Keep driving my friends!
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Comments (7)
To all american drivers: Stop complaining. We as europeans still pay on average more than twice as much for fuel as you do.
But we have better cars that spend less...so... It's all politic. Interesting, have
you ever heard that is good time so prices go down... no... only up. 😁😁
gas companies has the best excuse on raising the prices and they just wouldn't let that pass by.
Dang 20 cents for wind. I wonder how much it would go up if it where to rain? Absurd i know!
we also drive more.
I know that Hurricane Harvey was a very disastrous event, but the gas prices fiasco is ridiculous. I'm surprised that the government didn't immediately help fund the oil refineries recovery. Overall this is just ridiculous because it destroyed the wanting of car guys to take long road trips like (for example) a trip from the west coast to the east coast of the usa on route 66 which is really fun from what I've heard. The gas prices in my area did go up and its sad that they need us to buy livesaving gas for our cars at an higher price just because of lack of oil refineries. I'm just voicing my opinion though, so that's what I think of the artice.
The government didn't immediately fund the oil companies because they are still saving up for this wall that will cut off the Mexicans, that they still haven't built yet 😂