Still Too Early To Grade Harvey's Impact On Gas Prices

Tuesday, August 29th 2017, 5:41 am
By: Amy Avery

Gas prices around the country shot up a few cents when Harvey made landfall on the Texas Gulf Coast. Some experts say we could continue to see this impact for a while even after the flooding goes down.

On Sunday, Magellan suspended all inbound and outbound refined products and crude oil transportation services on its pipeline systems in the Houston area. The Colonial Pipeline, which delivers gas from Houston to the Mid-Atlantic, says its Gulf Coast pipeline and terminals are operating normally. But AAA officials say a clear understanding of the damage at the refineries is still unknown.

Oklahoma City only saw a two-cent jump in the past week, for an average price around $2.09. The state average, though, took a bigger hit and is now sitting around $2.13. The national average sits at $2.37, up seven cents from a month ago.

Still, it could be a while until we know the exact impact Harvey is going to have on gas prices in Oklahoma.