LAFAYETTE, La. (KLFY) – Following Hurricane Harvey’s wrath spanning across Texas and parts of Louisiana, gas prices are going up.
“It’s ridiculous. Yesterday gas was 2.01, and within a span of 24 hours, it’s 2.25, and that’s the cheap gas,” said Kerry Senegal, who was filling up his car with gas on Thursday.
50% of the gasoline that is refined in the United States comes from the Gulf Coast. With some of those refineries in Texas being forced to cease operations because of flooding, the supply chain is now interrupted, that according to Ben Broussard with the Louisiana Oil and Gas Association.
“So you’d have more demand and you’d have less supply right now, because of the refineries being shut down,” said Broussard.
According to the American Automobile Association (AAA), prices are supposed to increase at the pump because of Hurricane Harvey.
Last month in Louisiana, the average cost per gallon was $2.09. Last week the average cost per gallon was $2.14, and currently, the average cost per gallon is $2.215, while the national average is $2.449.
Last week the average cost per gallon was $2.14,
Currently, the average cost per gallon is $2.22, while the national average is $2.45.
“Analysts have about a 15 to 25 cent uptick at the pump. But that’s a short team uptick, and it’s only because most of America’s refining capacity is on the Gulf Coast,” said Broussard.
Even if there could be an increase in the price-per-gallon of gas for a short amount of time, Senegal says that he will continue to pull out the big bucks at the pumps.
“You have no choice. Either your car stop. Take your pick, buy it or walk,” he said.