Published: Sun, September 10, 2017
Money | By Oscar Reynolds

Gas at a premium as Southwest Floridians evacuate ahead of Hurricane Irma

Gas at a premium as Southwest Floridians evacuate ahead of Hurricane Irma

Gas prices are averaging $2.66 across the US, which is 28 cents per gallon higher than a week ago.

Hurricane Irma is barreling toward the Caribbean and expected to reach Florida by the weekend bearing sustained winds of more than 110 miles per hour, according to the National Weather Service.

For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.

Convenience store operators think Hurricane Irma evacuations out of Florida could strain the gas supply in Georgia.

"Retailers will not be in a big hurry to lower prices for a number of reasons".

DeHaan said things were looking up, "with many refineries either back online or in the process, and gasoline production is ramping back up".

Gas at a premium as Southwest Floridians evacuate ahead of Hurricane Irma
Gas at a premium as Southwest Floridians evacuate ahead of Hurricane Irma

The average gas price in CT is $2.88 and the average national gas price is $2.67. "It's not like they can just throw a switch and start producing gas". Prices in the Binghamton area are up 68 cents per gallon from last month, while in the Ithaca area, prices are up 7 cents per gallon from last month.

"Until Texas can recover from Harvey, gasoline prices will likely continue to remain elevated", he said. Five years ago, prices had eclipsed $4 a gallon and, in July 2008, it cost as much as $4.41 a gallon.

Losses in US supply capability have catapulted retail prices to their highest levels since August 2015, but remain well below the first weeks of September 2011 through 2014, AAA said. Last week, the average price for regular gas in the area was $2.49 a gallon.

"So Chevron, if you're watching me right now, you need to call us and tell us why your prices are inflated in south Florida", Bondi said on Fox News. Operators said the metro area gas supply is OK. It shows prices and information on the last time someone checked in from that station and whether there is gas there.

The pinch at the pump was a direct result of Harvey: enormous rain flooding refineries, wind and waves closing vital ports, causing massive disruptions to oil refineries, of which over a dozen had to shut down, with it closing over a quarter of the country's refining capacity.

"They'll want to have re-entry passes to get back in". While Irma is an even stronger storm than Harvey, it is not clear if it will hit oil industry facilities in the Gulf region. "Everyone in the US supply chain has been affected by the price increase and the worry about supply".

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