Hurricane Harvey May Increase Gas Prices

10% of the oil-refining capacities in the U.S. went offline because of Hurricane Harvey. This means there are less fuel available. Even the storm is reducing it’s power, the flooding along Texas and Louisiana coasts is still worsening.

The average price of regular unleaded is up 4 cent’s and became $2.38. However with the latest situation, price can get to near $2.50, which is a large increase per gallon. Also

Diesel, which is at $2.54 right now, can hit $2.60 soon.
Also natural gas prices will be largely unchanged until the colder weather, which is increasing the demand, arrives.

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