Gas Prices Rise Thanks to Harvey
Written by andrew-rossi on September 5, 2017
If you hadn’t noticed, gas prices are on the rise in Northwest Wyoming.
Average retail gasoline prices in Wyoming have risen 11.2 cents per gallon in the past week, averaging $2.53/gallon yesterday, according to GasBuddy’s daily survey of gas outlets in Wyoming. In the Big Horn Basin, prices average $2.57 as of today – but that’s still below the national average that has increased 23.8 cents per gallon in the last week to $2.64/gallon.
Prices yesterday were almost 29 cents per gallon higher than the same day one year ago in the state, and have risen 22 cents per gallon in the last month.
Patrick DeHaan, senior petroleum analyst for GasBuddy, says that hike is due to Hurricane Harvey shutting down an extensive amount of refining capacity. He says the national average gasoline price saw its largest weekly jump since Katrina hit the Gulf Coast in 2005.
DeHaan adds that Texas saw shortages at hundreds of stations, and until that state can recover from Harvey, gasoline prices will likely continue to remain high. However, he says the situation is beginning to look up, with many refineries either back online or in the process, and gasoline production is ramping back up.