Hurricane Harvey likely to boost gas prices for US drivers

Chris Mathew fills his vehicle and five gas cans at Costco in preparation for tropical weather on Wednesday, Aug. 23, 2017, in Pearland, Texas. The U.S. National Hurricane Center said the tropical depression was expected to intensify over the warm waters of the Gulf of Mexico before reaching the Texas coast Friday. (Steve Gonzales/Houston Chronicle via AP)

Hurricane Harvey could cause U.S. gasoline prices to rise, with the storm expected to hit a refinery-rich stretch of the Gulf Coast.

Some refineries are expected to shut down until the storm passes, possibly disrupting gasoline supplies.

Wholesale gasoline futures rose Thursday by 5 cents, or 3 percent, to $1.66 per gallon, and experts say that will quickly show up on service-station signs.

Patrick DeHaan, an analyst with GasBuddy, says Harvey could show up in retail prices as early as Thursday night. But he says doesn’t expect it will have as much impact as some past storms, such as Hurricane Katrina in 2005, which caused a 40-cent jump overnight.

In the Gulf of Mexico, oil and gas operators are evacuating workers from rigs.

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