Gasoline prices higher following Hurricane Laura

 

Hurricane Laura was blamed for the jump in national gasoline prices and prices at the pump also rose in Oklahoma, reaching a statewide average of $1.93, up from the $1.89 average a week ago.

The national average as of Tuesday was $2.23, up from the $2.19 average a week earlier.

Gasoline prices in Oklahoma City increased two cents a gallon in the past week to reach $1.93. Tulsa’s average is $1.89, up from the $1.84 average one week earlier.

The state’s highest average is $2.25 in Harmon County in the southwest.

Ellis County in the northwest has an average of $2.14 while gasoline prices in nearby Woodward County average $2.13 a gallon.

Blaine, Kingfisher and Logan Counties have an average of $2.07 per gallon,

The lowest county average is $1.82 in Craig County while the average in Grant County in the north is $1.84.

Oklahoma’s average compares to $2.01 in Kansas, $2.37 in Colorado, $2.03 in New Mexico, $1.90 in Texas, $1.92 in Arkansas and $1.94 in Missouri.

“It’s typical to see increased demand and more expensive gas prices ahead of a storm, especially one that threatens rigs and refineries in the Gulf of Mexico region,” said Jeanette Casselano. “The latest industry reports indicate that facilities in Texas have already begun the restarting process, which means there is no major threat to gasoline stocks and gas prices should push cheaper.”

However, operations in the Lake Charles, La., region are still down, and could be for a period of time. This includes the Lake Charles CITGO (440,000 b/d) and Phillip66 (239,400 b/d) facilities. In the Gulf of Mexico, the Bureau of Safety and Environmental Enforcement (BSEE) reports that 70% of current oil production is still shuttered, which is still significant but better when compared to 84% reported when the storm hit.

Source: AAA