ALBANY, N.Y. (NEWS10) – As Texans continue to battle the flooding after Hurricane Harvey, New Yorkers might be feeling some of the storm’s long-term effects over the weekend.
Eyes are turning to the gas pump as Labor Day weekend approaches. But there are more factors than just the holiday that will go into determining gas prices for the weekend.
Dan McTeague is a petroleum analyst at GasBuddy. He is part of a group that forecasts where gas prices are likely to go. For the upcoming holiday weekend, McTeague believes prices are going to continue to rise.
“Many will start to raise prices probably in the neighborhood of 10 to 15 cents a gallon at first before Labor Day,” he said. “If we’re lucky, the extra 10 cents, maybe just 15 cents, might come after Labor Day.”
Disasters in other states, like Hurricane Harvey, can affect prices in New York.
“It’s a historical outage for refineries,” McTeague said. “You’re already starting to see the effect that will have. Sort of a cascading effect from Texas going north.”
Hurricane Harvey caused a 31 percent outage of all gasoline produced in America. Since a large percentage of gasoline for the Northeast comes from the Colonial Pipeline that ends in Houston, prices in New York will not be coming down any time soon.
“Some five million barrels of crude oil is no longer being distilled into gasoline or into diesel or into jet fuel,” McTeague said.