Gasoline supplies might have returned to almost-normal levels in Texas but prices are much higher than a week ago.
The U.S. Energy Information Agency reports the nationwide average was 28 cents higher than a week ago, reaching $2.68 a gallon. Prices along the Gulf Coast and the east coast were reported to be higher too….39 cents on average on the East and 35 cents more in Texas and Louisiana.
The EIA reported that gasoline prices in the Lower Atlantic egion were up 41 cents on average from last week and no telling what they will do with the anticipated arrival of Hurricane Irma in Florida. The East coast, Texas and the Gulf coast were the hardest hit areas by rising gasoline prices because of Hurricane Harvey.
| Source: U.S. Energy Information Administration, based on Bloomberg, L.P. Note: Day 0 indicates the day the hurricane made landfall in the United States. If landfall was on a non-trading day, the first trading day prior to landfall was assumed to be day 0. Prices are for Gulf Coast conventional gasoline. |
The price jump isn’t out of the ordinary as gasoline prices rose about 30% when Hurricanes Katrina and Rita hit the U.S. But the government indicated the impact from Harvey was more gradual than from Katrina and Rita.
