If you noticed a sudden jump in gas prices in the area, it’s not just a localized phenomenon.
Prices are trending upward all over the country, thanks to the lingering rains from now-Tropical Storm Harvey in the Texas Gulf Coast.
Most places that have seen increases have seen jumps of 5 to 15 cents per gallon. But the Oil Price Information Service anticipates prices will drop again by the end of this week.
The increase is blamed on costly precautionary measures that have to taken by refineries in the Gulf of Mexico when these storms hit. The Gulf Coast accounts for 17-percent of total U.S. crude oil production and 45-percent of total U.S. petroleum refining capacity.
The good news is that the average price of a gallon of gas in the US was low before the storm hit, around $2.25 per gallon.
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1 comment
Wow,
Who knew that our refined gas is delivered daily from Texas. That is certainly why the gas that was bought for the pumps last week and the week before jumped up in price right before the hurricane. LOL…Does anyone really believe this crap?