The effects of Hurricane Harvey are expected to be felt more than 1,200 miles away in Wisconsin.
GasBuddy Senior Petroleum Analyst Patrick DeHaan expects fuel prices to jump 10 to 15 cents by mid-September. He notes refineries in the gulf account for roughly 16 percent of the nation’s refining capabilities. “That’s a sizeable amount. With Labor Day coming up and gasoline still in high demand for the driving season, you’re looking at a situation where now supply may not keep up with demand.”
More than one-third of the country’s refineries are in Harvey’s path.
DeHaan says the storm could also result in a noticeable price jump in flight prices.