Harvey To Impact Holiday Weekend Gas Prices


 

PHILADELPHIA (CNN)–Storm Harvey might have been downgraded to a tropical melancholy however it’s nonetheless anticipated to have an effect on fuel costs for the unofficial finish to summer time.

Based on AAA, the typical worth of normal unleaded fuel throughout the state has jumped three cents up to now week to $2.fifty three per gallon.

That worth is predicted to go greater over the Labor Day weekend and the development might proceed into September.

AAA stated costs might attain the very best degree of the yr.

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“If you see what’s happening in Houston, you’ll be able to hardly confer with a rise in our fuel costs as ‘ache’ on the pump,” stated Amy Parmenter, AAA spokesperson. “That stated, the timing of the rise is unlucky for all these planning one last street journey this summer time.”

A number of refineries in Texas shut down prematurely of the storm and different refineries, together with some within the northeast, are delivery provides to areas of the nation the place provides are low. AAA stated it’s inflicting a ripple impact that’s pushing costs up virtually all over the place.

The nationwide common has elevated 10 cents in every week to $2.forty five per gallon. That’s 23 cents larger than final yr presently.

“Simply how excessive fuel costs may go depends upon how lengthy the disruption lasts, however AAA analysts anticipate it to be brief-time period, days or perhaps weeks, not months,” Parmenter stated.

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AAA analysts consider it is going to be adopted by a pointy drop off due to the switchover to the inexpensive winter mix of fuel and a drop in demand.

“Even with fuel costs on the rise, drivers throughout Connecticut are nonetheless having fun with a few of the lowest fuel costs we’ve seen in years,” Parmenter stated. “And in a month or so, these growing costs will reverse course, and start a downward development towards yr’s finish.”

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