Like Hurricanes Katrina or Gustav, when strong winds mainly caused damage to oil production, Harvey has also severely disrupted the USA refining industry and products pipelines, causing a spike in products prices. At least two East Coast refiners, including Philadelphia Energy Solutions and Irving Oil, have already run out of gasoline for immediate delivery as they have rushed to send supplies to the U.S. Southeast, Caribbean, Mexico and South America to offset the lack of exports since Harvey, sources said. The global head of energy analysis for Oil Price Information Service, Tom Kloza says that, “This is going to be a substantial “ouch” for consumers”. Gas prices in Bowling Green were just above $2.00 a week ago before Harvey made landfall. Read More…Credit By: The Insider Car News

Source: The Local September 03, 2017 23:15 UTC