Hurricane Harvey could affect gas prices

NEW YORK (FOX 5 NEWS) - The ripple effect of Hurricane Harvey's devastation may be felt in the New York area in the form of higher gas prices. Refineries all along the Texas Gulf Coast are shut down for at least the duration of the storm. That means gas supplies could be tight in the weeks ahead.

"There are concerns that the storm may disrupt supply as many refineries have closed their operations and energy companies have pulled their workers from offshore oil platforms and halted onshore drilling," Lauren Simonetti of Fox Business said. "Damage and flooding to infrastructure is a concern."

Robert Sinclair Jr. of AAA Northeast said the impact could be 15 to 25 cents per gallon but that will probably be localized depending on the magnitude of the storm. That price increase could make its way north if the Colonial Pipeline, which supplies the Northeast with 145 million gallons of gasoline a day, is damaged.

"That Colonial Pipeline is carrying an enormous amount of supply from the Gulf Coast up to our area," Sinclair said. "If the impact from the storm is very lengthy it could wind up causing a problem for us."

The thought of a potential price jump worries some drivers we spoke to.

About one-third of the nation's gasoline-refining capacity is located in the Gulf Coast region. Analysts say that the storm would need to be more severe than it was Friday to do any damage to refineries.