Hurricane Harvey may lead to increased gas prices for Carolinas

Hurricane Harvey may cause higher gas prices in the Carolinas.

Several oil and gas refineries along the Texas Gulf Coast have temporarily shut down, according to a statement from AAA Carolinas, an affiliate of the American Automobile Association.

On average, the price of a gallon of regular unleaded gas in South Carolina is $2.10, according to AAA Carolinas. In North Carolina, the average is $2.22.

Gas prices could increase 5 to 25 cents per gallon in the next several days, according to AAA Carolinas.

“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,” said AAA Carolinas spokesperson Tiffany Wright. “Don’t over-consume or change spending habits at the gas station. These behaviors could lead to gas shortages across the Carolinas.”

Wright said the organization does not yet know the full effect Hurricane Harvey could have on gas prices, as residents plan their final summer vacations and road trips.

“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.”

Oil and gasoline inventories across the U.S. have been at high levels all season. That means sudden changes to supply and demand may be contained, according to AAA Carolinas.

How quickly the refineries in Texas will reopen depends on the severity of flooding and the restoration of power to the areas, the statement says.

This story was originally published August 28, 2017 at 1:10 PM with the headline "Hurricane Harvey may lead to increased gas prices for Carolinas."