Gas up 7 cents in a day thanks to Harvey - WFSB 3 Connecticut

Gas up 7 cents in a day thanks to Harvey

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(WFSB) (WFSB)
NEWINGTON, CT (WFSB) -

The president said the U.S. Department of Energy will start tapping into emergency reserves to help stop spiking gas prices as the nation heads into the Labor Day weekend.

Harvey shut down a dozen refineries in Texas, which in turn caused a sharp increase in fuel prices across the country.

And experts said it's not over yet.

AAA estimated that 35 million drivers will travel this weekend while gas prices are at the highest amount of the year.

The current average price in Connecticut is $2.60 as of Friday morning, which is up nearly 7 cents from Thursday.

The auto club said it has been closely monitoring the situation and said it's been constantly changing.

The last unofficial weekend of summer means demand is high. Coupled with low supply means increased prices.

Experts blame the closure of the Colonial Pipeline in Texas. Several refineries have also been shut down.

About a third of the nation's refining capacity is offline on the Gulf Coast.

Other refineries, including some in the northeast, have been trying to pick up the slack by shipping to areas of the country where supplies are low.

One gas station owner who spoke to Eyewitness News said he expected to see the ripple effect to extend beyond the gas pumps.

"It's not just gas stations, it's gonna be all over, especially grocery stores," said Gerry Katz, owner, Shell gas station in New Haven.

AAA does believe the upswing will be relatively short-lived.

It said as drivers head into the fall and winter, demand will drop and gas stations will switch to the cheaper "winter blend" of fuel.

To check gas prices in Connecticut, head to AAA's fuel gauge report here.

Copyright 2017 WFSB (Meredith Corporation). All rights reserved.

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