Gas prices could spike amidst Hurricane Harvey devastation

The price of regular unleaded gasoline is likely to spike in Tampa Bay in the aftermath of Hurricane Harvey.

The devastation of Hurricane Harvey continues to grow, with some 30,000 people displaced, 30 confirmed dead and a second landfall near the Texas-Louisiana border on Wednesday morning.

AAA is reporting gas prices could increase an additional five to 25 cents per gallon over the next several days.

In the Great Lakes region and Central U.S., all states but Missouri saw price increases, and IN saw the largest price increase at 11 cents from one week ago.

The price at the pump has jumped considerably in Ottawa - and will likely go higher, according to analyst Dan McTeague, as Harvey hits Gulf Coast oil refineries.

As of Monday afternoon, prices in Texas had already risen about three cents from the week before - hardly a dramatic spike, though gas is usually headed the other way this time of year, Mac said.

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Despite Harvey's cataclysmic properties, AAA offered perspective when it diminished the storm's postmortem effects on the retail gas economy, in comparison to Hurricane Katrina in 2005.

The nation's least expensive markets are SC ($2.11), Alabama ($2.12), Arkansas ($2.12), MS ($2.12), Oklahoma ($2.13), Missouri ($2.14), Virginia ($2.15), Louisiana ($2.16), Tennessee ($2.16) and Texas ($2.17).

Hurricane - now Tropical Storm - Harvey has caused almost 100 oil and gas production platforms in the Gulf of Mexico to temporarily shut down.

Less supply causes a higher demand, which is why gas prices are up. "The national average will rise 5 to 15 cents a gallon over the next two weeks". "The impact will be fairly dramatic but also fairly quick". "Areas of the Gulf of Mexico will see prices go up between 20 and 35 cents", DeHaan told the Washington Post Tuesday. "These behaviors could lead to gas shortages across the Carolinas".

"My favorite is when they are making their "annual repairs" to the refineries so they can increase the prices then, too", said Michaels, of Vacaville, using air quotes around annual repairs.

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