Gas prices have increased in the area as a result of Hurricane Harvey, which struck Texas two weeks ago.

Terminals in Texas and other locations across the country shut down, which drove gas prices upward, while the demand remains the same for oil production.

“Gas prices have been affected not only in Wayne, but everywhere,”
said the owner of G’s Quick Stop, who goes by the name of G.

He said that, although retailers purchase gas from terminals in the
local area, some of the fuel still comes from refineries in Texas,
meaning that gas prices are up all over.

“Every gas station buys from terminals in our surrounding area,”
said G. “The terminals are also paying more for oil prices.”

He also said that as the oil industry gets the Texas refineries back in operation, local gas prices should come back down as availability
increases. On the other hand, he said there are other factors affecting long-term gas prices.

“In the long run, gas prices may be coming up because resources are
diminishing,” said G.

Few buildings were left untouched by the hurricane, meaning many refineries will require extensive repairs before resuming production.

“There are a lot of refineries down in Houston,” said Lindsey Doctorman, Assistant Professor of the Business and Economics
department. “With many of them out of production, the shortage causes prices to increase as the marketplace adjusts.”

But many manufacturers also depend on refined petroleum for their products.

“Oil is a huge input on production of goods,” said Doctorman, indicating that prices of other things could also increase as a result of the oil refineries being out of production.

It’s going to cost more to produce the good because of the hurricane.
On the other hand, the effect of the closed oil refineries may not
be as bad as it would have been years ago.

“Cars are being produced differently and are consuming less,” said
Doctorman.

It is difficult to predict how long it will take the Texas refineries
to return to full production, and how long local gas prices will be
elevated.