Sacramento, CA, August 27- Average retail gasoline prices in Sacramento have risen 0.6 cents per gallon in the past week, averaging $2.87/g yesterday, according to GasBuddy's daily survey of 720 gas outlets in Sacramento. And this is not limited to affected states as oil and gas prices are expected to rise due to the shutdown of Texas' Gulf Coast.
A spokesperson for AAA Carolinas said since several oil and gas refineries along the gulf coast have been shut down temporarily due to the storm. Analysts predict the price of gasoline will jump between 5 cents and 15 cents across the country this fall. The average Kansas per gallon price is $2.28 today, up five cents from Tuesday and up 10 cents from its August 21 statewide average of $2.18. The nation is heading into the busy Labor Day weekend, which marks the end of the summer driving season. New York Harbor gasoline gained another 12.5 cents, or 7%, to $1.90 a gallon.
With supplies under pressure, gasoline futures are trading at more than two-year highs.
The national average could climb to $2.50 as a result of Harvey. He suggested retailers could use the wholesale price increase as an excuse to raise prices to boost profit margins.
At least eight refineries across Texas were offline as of Tuesday afternoon.
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Longer-term, the more dramatic impact of the Gulf's importance to the global energy trade will be felt in natural gas.
Mac said the storm is affecting prices not just in Texas but in places like Oklahoma, Colorado and the Carolinas, which also depend on Texas refineries.
AAA expects Harvey to generate a short-term, noticeable spike in national average gas prices that should start dropping again in mid-to-late September, barring extensive refinery damage. "[Average] prices are now up to $2.40 a gallon and the increase could put us beyond the $2.42 mark, which is the highest we've already seen this year", she said.
But there is some good news for B.C. drivers.
Most Jacksonville stations were at $2.19 a gallon Monday.