Key oil and gas facilities along the Texas Gulf Coast have temporarily shut down as Harvey pounds the region with torrential rain and high winds, virtually assuring gasoline prices will rise in the storm’s aftermath.
Even before the Harvey made landfall late Friday, dozens of oil and gas platforms had been evacuated, at least three refineries had closed and at least two petrochemical plants had suspended operations.
How soon they reopen depends on the severity of flooding and the resumption of power to the areas.
Experts say it’s still too early to say, with the storm still moving through the region Saturday evening. But they believe gas prices will increase 5 cents to 25 cents per gallon.
Harvey also continued to take a toll on U.S. air travel Saturday, with more than 1,000 flight cancellations as of the early evening, according to FlightAware. Nearly 850 of the canceled flights were scheduled to either depart from or land at Houston’s two airports.
The shipping industry also is expected to be disrupted by the worst hurricane to hit the refinery-rich Texas coast in more than 50 years.
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