Frigid temperatures in Texas last week shut down oil refineries which in turn pushed gas prices higher.
The trend is continuing. The national average price of a gallon of gas increased more than a dime in the last week. The national average today is $2.63 a gallon and higher in the Harrisburg area at $2.84.
“With last week’s extreme cold shutting down millions of barrels per day in refinery capacity, gas prices have seen their largest weekly climb in quite some time,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.
“The jump in price was the result of a dozen or so refineries, primarily in Texas, that were forced to shut down as the frigid temperatures threatened to wreak havoc on their exposed equipment.
With the cold weather behind us, price increases show begin to slow later this week or next week, and so long as these refineries get back online in short order, we may see gas prices start to move back down in the next couple of weeks.
However, as we near spring weather, we’ll likely see another longer term rise in prices begin as refineries start to transition to summer gasoline, so motorists shouldn’t jump for joy just yet.”
According to GasBuddy, the average in Harrisburg increased 5.3 cents in the past week - that’s on top of a 6-cent increase the week prior and some of the highest gas taxes in the nation.
The average gas price in Harrisburg is 17.4 cents higher than a month ago and 21.9 cents higher than a year ago.
Last week AAA had said, “The jump in the national average is a direct result of all major Gulf Coast refineries being impacted by the recent winter storm, which has caused gas supplies to tighten and pump prices to increase.
Until refineries resume normal operations, supply is expected to remain tight in impacted areas, especially with road conditions and power outages reducing fuel deliveries.”
The lowest gas price in the Harrisburg area today is $2.55 at Turkey Hill in Middletown
Next lowest is $2.64 a gallon at Sam’s Club in Swatara Twp., Royal Mart and Smitty’s in Highspire and Costco in Lower Paxton Twp.
Warning: Gas prices could jump 10-20 cents per gallon over the next two weeks due to "frozen" production in Texas. More info on our blog. https://t.co/Nrr7dPLyv1
— GasBuddy (@GasBuddy) February 17, 2021
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Gas prices in the Harrisburg area approaching $3 a gallon.