Gas prices surge higher as drivers rush to fill their tanks

Gas prices surge higher as drivers rush to fill their tanks

Eight refineries were shut down because of the hurricane, taking more than 2 million barrels out of the market.

Filling fuel tanks is becoming increasingly hard in parts of Texas where some stations were out of gas and pump costs have risen steeply.

One terminal operator in the New York Harbor region which receives distillate fuel supplies from Colonial said it expects disruptions to its next batch of supplies set to arrive on September 6.

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But supply isn't the problem, the Texas' oil and gas regulator said, even though refiners have been crippled by Harvey.

"I don't believe a week from now that this will be an issue", Sitton said. If Texas refineries are down for an extended period of time, the national average could climb above $2.50 a gallon, the highest price since August 28, 2015. "There is a challenge of logistics, getting that gasoline from where it is stored to the gas stations, and that is a real challenge and the people are working through that".

A spokeswoman for the office said as of Thursday afternoon there have been 202 complaints of price-gouging at service stations around Texas since Harvey began.

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AAA on Thursday reported the average price for regular gasoline in Texas was $2.26 per gallon.

AAA said there could be another rise in gas prices before the week is over. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road.

In Dallas, one 7-11 had 11 cars waiting.

However, the good news is that the increases are not expected to be as severe as they were after Hurricane Katrina hit 12 years ago and gas prices jumped 80 cents per gallon. At three gas stations in north Dallas, yellow bags or caution tape was wrapped around pumps just after noon.

Huge challenges remain for the nation's system of getting gasoline to the pumps.

According to AAA, about one-quarter of the refining capacity in that area of the Gulf Coast has been knocked offline, which is causing gas prices to go up across the country.

Thirteen Gulf Coast refineries have been shut down or are in the process of shutting, while several others are operating at reduced rates, according to S&P Global Platts. Colonial's operator said Thursday that it expects the pipeline to be operational again Sunday.

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