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Gas prices jumped 20 cents overnight, higher costs ahead

By Jim Fair, Editor
Published on Tuesday, August 29, 2017

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Gas prices at the QT station on Pelham Road off I-85 jumped 20 cents overnight.
 

Jim Fair

Gas prices at the QT station on Pelham Road off I-85 jumped 20 cents overnight.

 

• Check gas prices here.

Aug. 31, 1:15 a.m.

Gas prices increased another 25 cents – that's more than 40 cents over two days – Wednesday night at Spinx and QuikTrip stations in the greater Greer area. 

Aug. 29

Hurricane Harvey is impacting gas prices HereInGreer and other parts of the region.

QuickTrip and Spinx have raised their prices at some of their stations substantially overnight to $2.25 for a gallon of unleaded fuel, according to Gas Buddy.

The lowest city gas prices Monday at most stations in Greer were $2.07 - $2.09.

Right now, the statewide average for a gallon of regular unleaded gas in South Carolina is $2.10 and in North Carolina is $2.22. Gas prices could increase from 5 to 25 cents per gallon or more overnight or in the next several days, according to Carolinas AAA.

“While gas prices have the potential to increase following the devastation from Hurricane Harvey, it’s important we stress to motorists to avoid panicking at the pump,” said AAA Carolinas spokesperson Tiffany Wright. “Don’t over consume or change spending habits at the gas station. These behaviors could lead to gas shortages across the Carolinas.” The possible gas price increase comes at a time when many Carolinians are making plans to take a final summer vacation with a road trip for the Labor Day holiday.

“The busy summer driving season is wrapping up and right now gas prices in the Carolinas appear only slightly higher than they were last week,” said Wright. “That doesn’t mean that prices won’t spike overnight. We still don’t know the full effects of Hurricane Harvey which could have the potential to push pump prices higher as Labor Day approaches.”

Hurricane Harvey’s devastating journey in the Texas Gulf Coast has forced several oil and gas refineries to temporality shut down operations and production. How quickly the refineries reopen will depend on the severity of the flooding and the restoration of power to the areas.

The shutdown of refineries could mean a loss of more than one million barrels per day in refining capacity just in the Houston and Galveston, Texas, areas — that's not including hundreds of thousands of more barrels in the Corpus Christi, Texas area.

?Despite the potential for gas price increases and shortages, oil and gasoline inventories across the country have been sitting at high levels all season. Immediate shocks to supply and demand may be contained. If the refineries take more than a few days to come back online, motorists in the Carolinas and other regions across the country could see increases at the gas pumps.

 

 

 

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