Tropical Storm Harvey's Impact On Gas Prices

Monday, August 28th 2017, 5:56 am
By: Dave Davis

We are still waiting to see what kind of impact Hurricane Harvey will have on gas prices at the pump in Tulsa.

Looking at GasBuddy website an average gallon of gas in the Tulsa area has held steady since the middle of the last week.  We're at about $2.08 a gallon across the area, the same average as last Wednesday.

But CBS News is reporting, Harvey has shut down about 15 percent of our country's refinery capabilities.

And they say more refineries could be in the storm's path.

With the heavy rain expected to last for days, it's still unclear how bad the damage will be, but there is already evidence of widespread losses.

Key oil and gas facilities along the Texas Gulf Coast have temporarily shut down, and flooding in the Houston and Beaumont areas could seriously pinch gasoline supplies. Experts believe gasoline prices could increase as much as 25 cents a gallon.

But the good news is that prices here in Tulsa haven't gone up yet.  So, Monday may be a good time to fill up.

The Associated Press contributed to this report.