Gas prices to go up after Harvey's storm

The Gulf Coast produces five million barrels of oil a day.

PHOENIX - As Tropical Storm Harvey continues to wreak havoc in southeastern Texas, the cost of gas is edging up.

"It caused 8 refineries to shut down," said Michelle Donati with AAA, "and several others to operate at reduced capacity."

AAA said the reason Harvey is disrupting fuel supplies is because of the oil refineries located in Galveston and Corpus Christi. The national average on Tuesday was $2.38. The price by next week should inch five to fifteen cents higher.

"We do not receive any product from the refineries that were shut down," she said. "We might still feel an impact, but it might not be as much or as quickly as the states in the Gulf Region."

HOW YOU CAN HELP: Donate to Hurricane Harvey relief efforts

Not all areas across the U.S. will feel the cost increase equally. In the Midwest, analysts say gas may go up 25 cents a gallon.

The states projected to have the biggest impact: Texas, Louisiana, Arkansas and Tennessee.

According to AAA, the impact to Arizona will not be as high.

RELATED: Harvey's damaging floods will affect Arizona's economy. Here's how.

"You have a west pipeline that comes from California," said Donati, "and an east pipeline out of Texas. If there is tightness on the east, sometimes we can rely more on the west and vice versa.“

It’s still too soon to know how the storm will continue to impact the market, because you have to assess the damage to the refineries and take into consideration we are going into a busy travel weekend.

© 2017 KPNX-TV


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