As Southeast Texas continues to recover from the effects of Hurricane Harvey, motorists in 26 U.S. states are paying 25 to 44 cents more for a gallon of unleaded gasoline compared to one week ago, according to newly-released data from AAA.
All but four states have seen gas prices rise since the storm hit, with the exceptions being Alaska, Idaho, Hawaii, and Utah, where prices currently remain stable. However, current prices are now two cents away from the highest price-per-gallon Americans have paid for gasoline in more than two years.
A newly-released U.S. Department of Energy (DOE) report stated that eight refineries along the Gulf Coast are in the process of restarting, all of which account for approximately 10 percent of the area’s refining capabilities. While no refinery has returned its normal operational levels from before the storm, at least four are operating at reduced rates.
As a result of the refinery stoppages, DOE recently authorized the Strategic Petroleum Reserve in order to negotiate emergency exchange agreements authorizing approximately 5.6 million barrels of crude oil to address supply shortages.
“News of refineries starting-up is very promising, especially for areas that have felt tightened supply levels over the last 10 days, but we aren’t in the clear yet,” AAA Spokesperson Jeanette Casselano said. “Consumers will continue to feel pain at the pump stemming from Harvey with gas prices potentially increasing an additional five to ten cents in the week ahead.”
She continued, stating the states in the south, southeast and mid-Atlantic were most likely to see the biggest surges as those states receive the bulk of their supplies from the Gulf Coast.
Delaware saw the greatest increase in prices among all states, rising by 44 cents since the storm began. Georgia and Maryland saw price increases by approximately 41 cents, while New Jersey and Tennessee saw prices rise by 40 and 39 cents, respectively.
AAA said that 74 percent of U.S. gas stations were continuing to sell gas for $2.75 or less while only seven percent were selling above $3 per gallon.