Gulf Coast Refineries Offline Due to Storm, Gas Prices Climbing
Since Monday, the national gas price average has increased ten cents to $2.60. This quick 4-day jump is a direct result of all major Gulf Coast refineries being impacted by the recent storm, which has caused gas supplies to tighten and pump prices to increase, according to AAA Northeast.
The pump price increases have also been felt locally. Since Monday, Rhode Island’s average price for unleaded has jumped six cents to $2.52 per gallon, while in Massachusetts, prices have gone up seven cents this week, to $2.54.
“The situation is very similar to a Gulf Coast hurricane’s impact. Refineries come offline, and until damage (if any) is assessed and operations are back up and running, supply is tight, especially with road conditions and power outages (mostly in Texas) reducing fuel deliveries – if stations even have power to accept them,” said Mary Maguire, AAA Northeast Director of Public and Government Affairs. “Until things thaw out and Gulf Coast refineries are running again (likely early next week), we do expect more expensive pump prices across the country.”
