Hurricane Harvey's impact means gas prices are on the rise

Hurricane Harvey's impact means gas prices are on the rise

Hurricane Harvey's impact means gas prices are on the rise

Calgary motorists are feeling the impact of Hurricane Harvey as gasoline prices jump and will likely continue rising.

Texas and other US states along the Gulf of Mexico were adversely affected by heavy rains and severe flooding brought by hurricane Harvey.

According to the price setting regulations, if the price fluctuates between six cents and eight cents a litre, the URB may use the interrupter to set the price ahead of the normal weekly price setting time of midnight Thursday.

On Wednesday, he added that another hike could be on the horizon for Friday - just as people hit the road for the Labour Day weekend.

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Senior petroleum analyst Dan McTeague, of GasBuddy.com, predicted on Thursday that gas prices were about to skyrocket in Ontario. The average price makes Arizona sixth-cheapest in the U.S.

The closure of the Colonial Pipeline on Thursday, on top of major refineries including the largest, Motiva in Port Arthur, has led to exploding gas prices, McTeague said. That translates to about 75 cents USA per gallon, he said, adding typical U.S. increases in affected states have been only about 20 cents per gallon.

"The supply is having to come from different areas farther away.You know they are having to truck gas in from different areas from different regions, and that raises the price", Tim Taylor, Manager of Smith's Chevron said.

"You could see prices moving up by the end of next week", he said, indicating another jump at the pump. "In Canada, we barely produce enough gasoline to meet our own needs". "Yeah, so here, they don't have it either", Beasley said. "This story will go on for the entire month of September and it will mean higher prices than what we are paying now on average and that will probably maintain with higher prices for the entire month of September until refineries can get back up and running".

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