United States

Gas Prices in Connecticut Jump Again Overnight

Gas prices continue to go up in Connecticut in the wake of the damage Harvey has caused in Texas, though the increases are getting smaller. The average price for a gallon of regular unleaded increased 3 cents overnight, to $2.84, and the national average increased 2 cents to $2.64, according to AAA.

AAA says this is the highest price Connecticut has seen for gas all year - up 36 cents in the last week and up 53 cents from this time last year.

The price has jumped 7 cents overnight into Sunday to $2.81 for a gallon in Connecticut, and the national average jumped 3 cents, to $2.62. Before that, the Connecticut average had jumped a whopping 14 cents, from $2.60 to $2.74, and nationally 7 cents from $2.52 to $2.59.

As the energy sector in the southeast Texas Gulf Coast deals with flooding in the aftermath of Harvey, it will be days or even weeks before is back to normal operations.

Since Harvey shut down refineries, other regions are pulling from Connecticut’s supply, causing the price spike just in time for Labor Day Weekend, said Amy Parmenter, AAA spokesperson.

“The timing of this is a bit unfortunate. Mother Nature obviously doesn’t have a calendar,” Parmenter said Friday.

But AAA expects the price surge to only last days or weeks, not months, according to Parmenter. Later this year, Connecticut should expect some of the lowest prices of the year, she added.

The region from Corpus Christi, Texas, where Harvey made landfall, to the Louisiana state line accounts for about 3 percent of the U.S. economy and is a crucial export market for oil and chemicals.

Exxon, Shell and other companies have reported to Texas regulators that some of their storage tanks and other facilities near Houston were damaged by the torrential rains and flooding. Most of the reports seem to indicate relatively minor damage, but still, it could be days before crews can assess matters and make repairs.

Parts of the Colonial Pipeline, the main fuel line that runs from Texas to New York, remains shut down — partly because with refineries closed, there is nothing to ship, but also because of Harvey-related damage.

Colonial Pipeline Co., the biggest fuel transporter in the U.S., said Wednesday night in a statement that a line carrying diesel and jet fuel is temporarily shut down and that a line carrying gasoline would close today. The company plans to resume normal operations as conditions improve.

One analyst told NBC News that this could be a major blow to the country’s fuel system.

Some refineries in the Northeast are also now shipping supplies to areas of the country where supplies are low.

Copyright AP - Associated Press
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