Punishing prices for gasoline hit Saturday at local stations

WTI Crude Oil

Daily October West Texas Intermediate Crude Oil

Oil prices turned lower on Thursday, reversing the previous session's sharp gains, as flooding caused by Tropical Storm Harvey continued to paralyze USA refineries of the Gulf Coast.

The Colonial Pipeline runs to NY and provides almost 40 percent of the South's gasoline.

"When we noticed the prices going up we made a decision to get the 20 gallons at 15 cents off", Dixon said, referring to a gas points discount offered by Food City.

Meanwhile, the RBOB gasoline futures fell 3.37% to $1.72193 a gallon, retreating from a 52-week high of $1.7832 a gallon posted earlier today. There are still vacationers, she said, but there are now more RVers rather than families.

Several refineries in Texas shut down in advance of the storm and other refineries, including some in the northeast, are shipping supplies to areas of the country where supplies are low. Prices for some parts of the Midwest like Michigan, Indiana and OH will probably rise about 15 to 25 cents, he said.

When the news about gas production being disrupted came out, many drivers hurried up to refill their tanks.

"The shut downs do not indicate a shortage of gasoline supplies in the Gulf Coast region or across the country", said Carrasco. West Palm Beach has the most expensive gas in Florida with prices coming in at $2.50 a gallon followed by Miami at $2.45 per gallon and Ft.

The oil market outside the USA remains well supplied with ample production by the Organisation of the Petroleum Exporting Countries.

Some gas station in Texas are seeing long lines and some are out of gas. The Colonial Pipeline that supplies gas to northeastern states is slowly returning to service following the hurricane.

NBC 5 and Kroger are teaming up to get help with the relief effort for the damage caused by Hurricane Harvey.

Nationwide, he expects Harvey will likely be felt at the pump throughout September and October.

Motor fuel prices slipped 2.3 percent in NY on Friday amid signs some U.S. Gulf refineries are preparing to restart operations.

AAA expects prices at the pump to go up at least through Labor Day.

To be sure, there are always unknowns. However, there is a risk that prices could go much higher if there is any damage to a major refinery or pipeline - or it takes a long time to bring the refineries back online.

"We are going into winter".

Regarding the August 27 Maine Sunday Telegram article: "Storm's havoc will boost price of gas, disrupt travel, shipping".

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