A jump in gas prices are on the way as Hurricane Harvey has put refineries in Texas out of commission.
Since Monday, gas prices have gone up 25 cents on the board (futures) said Chris Struempler, fuel accountant for Panhandle Coop. The indication is supplies will be short, but the diesel and crude have stayed about the same.
“The diesel prices will probably see an increase,” she said. “Because of the refineries in Houston that were affected as they are such a huge gas supplier.”
Adding to the supply stress in the area is the fact the Cheyenne refinery has been down for two weeks for maintenance work.
A jump in gas prices could be 10 cents or more, Struempler said.
“From the reports we are getting, it will depend on how long the refineries are offline, they’re still operational, but it could be a month or two before they are fully operational,” she said.