AAA: Harvey could impact gas prices in Carolinas

WILMINGTON, NC (WWAY) — Don’t be surprised to see gas prices climb in the Carolinas over the next couple of weeks thanks to the monster storm flooding big parts of Texas.

AAA says Hurricane Harvey could greatly impact gas prices here. Several oil and gas refineries along the Texas Gulf Coast have temporarily shut down operations and production as the area recovers from the disaster. How quickly the refineries reopen will depend on the severity of the flooding and the restoration of power to the areas.

As of Monday morning, the statewide average for a gallon of regular unleaded gas in North Carolina was $2.22, according to AAA. South Carolina’s average was $2.10. AAA says gas prices could increase from 5 to 25 cents per gallon or more overnight or in the next several days.

“While gas prices have the potential to increase following the devastation from Hurricane Harvey, it’s important we stress to motorists to avoid panicking at the pump,” AAA Carolinas spokesperson Tiffany Wright said in a news release. “Don’t overconsume or change spending habits at the gas station. These behaviors could lead to gas shortages across the Carolinas.”

Harvey has dumped upwards of 50 inches of rain in some parts of southeastern Texas causing widespread flooding. Forecasters expect more rain over the next couple of days until the storm finally moves out.

The possible gas price increase comes at a time when many people are making plans to take a final summer vacation with a road trip for the Labor Day holiday.

“The busy summer driving season is wrapping up and right now gas prices in the Carolinas appear only slightly higher than they were last week,” Wright said. “That doesn’t mean that prices won’t spike overnight. We still don’t know the full effects of Hurricane Harvey which could have the potential to push pump prices higher as Labor Day approaches.”
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Despite the potential for gas price increases and shortages, oil and gasoline inventories across the country have been sitting at high levels all season, AAA said. Immediate shocks to supply and demand may be contained. If the refineries take more than a few days to come back online, motorists in the Carolinas and other regions across the country could see increases at the gas pumps.