Delaware gas prices are feeling the effects from Hurricane Harvey.
Harvey, now a tropical storm, has led reduced oil refining output by about 25 percent.
Some areas in Delaware saw an immediate five to 10-cent jump in gas prices early this week, with further hikes are likely.
Wilmington-based AAA Mid-Atlantic reported the national average could climb to $2.50 a gallon as a result of the storm, which has resulted in severe flooding in Houston and damage along the coast.
Some Texas refineries could be back online as early as the end of this week, while refineries near the Texas/Louisiana coast are operating at reduced rates and might see delays in getting back in full operation.
“Despite the country’s overall oil and gasoline inventories being at or above five-year highs, until there is a clear picture of the damage and an idea when all refineries can return to full operational status, gas prices will continue to increase,” said Ken Grant, manager of public and government affairs for AAA Mid-Atlantic. “Pump prices are expected to climb at least through the Labor Day weekend when drivers could pay the highest gas prices for the holiday in two years.”
CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline
|
8/29/17 |
Week Ago |
Year Ago |
|
| National |
$2.38 |
$2.34 |
$2.22 |
| Delaware |
$2.25 |
$2.22 |
$2.12 |
| Dover |
$2.22 |
$2.18 |
$2.12 |
| Maryland |
$2.33 |
$2.30 |
$2.21 |
Still, Harvey is no Katrina, which caused pump prices to jump as much as 30 cents a gallon in some places in one day, before quickly hitting $3 a gallon and above for the first time ever across the nation and prompting crude oil prices to spike briefly “to above $70 per barrel before dropping.”
For perspective, pump prices are also well below the highest ever prices at the pump of $4.11 per gallon, which occurred in July 2008.
