Harvey flooding sends gas prices upward

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Average retail gasoline prices in Ohio have risen 22 cents per gallon in the past week, averaging $2.52 per gallon on Monday, according to GasBuddy’s daily survey of 5,345 gas outlets in Ohio. This compares with the national average, which has increased 23.8 cents per gallon in the last week to $2.64 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Ohio during the past week, prices yesterday were 38.4 cents per gallon higher than the same day one year ago and are 26.6 cents per gallon higher than a month ago. The national average has increased 29.8 cents per gallon during the last month and stands 44.5 cents per gallon higher than this day one year ago.

“Thanks to Harvey shutting down an extensive amount of refining capacity, the national average gasoline price saw its largest weekly jump since Katrina hit the Gulf Coast in 2005, when the national average jumped 49 cents in a week,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Every state has seen average gas prices rise; Texas saw shortages at hundreds of stations – it’s been one of the most challenging weeks faced in years.

“Until Texas can recover from Harvey, gasoline prices will likely continue to remain elevated,” DeHaan added. “The situation is beginning to look up, with many refineries either back online or in the process, and gasoline production is ramping back up.

“While it may be weeks or longer before all refineries are back online, we now turn our attention to Hurricane Irma,” DeHaan noted. “With the Colonial Pipeline having shut down last week due to a lack of products, Florida and the Southeast and Mid-Atlantic may be a touch-and-go area for gasoline. Products are flowing to the region, but we’ll have to keep a close on the storm, as Irma’s path continues to be updated.

DeHaan added that GasBuddy has expanded its emergency gas availability tracker to Florida, Georgia, the Carolinas and is prepared to again expand coverage in case motorists need help finding gasoline in other areas.

“Much remains in the air, but the situation promises to be challenging if Irma threatens the U.S. mainland,”