Gas prices are moving higher as a result of Hurricane Harvey, but experts say they don’t expect the hike is enough to make Labor Day travelers change their plans. If you’re traveling, you’ll need to get smart about cutting your bill.
On Friday, AAA put the average fuel price nationwide at $2.52 — topping what AAA said Thursday was the highest recorded price this year. Prices are up 17 cents (7.2 percent) from a week ago. Last month, the average was $2.32 per gallon nationwide.
“The hurricane hit the epicenter of this country’s refineries,” said Allison Mac, a petroleum analyst for GasBuddy.com. “Because of that, basic economics 101, there’s a squeeze on supply.”
“We think the national average could continue to rise 5 to 15 cents per gallon over the next two weeks,” she said.
States in the South and Southeast have seen bigger price jumps at the pump compared with other areas due to curtailed supply from shutdowns of refineries and pipelines, said Jeanette Casselano, a spokeswoman for AAA.