Texas Gas Prices Slowly Falling After Hurricane Harvey
Texans could soon see lower prices at the pump after Hurricane Harvey and runs on gas stations in the wake of the storm caused fuel costs to soar.
The Houston Chronicle reports that the national average dipped 5 cents in the past week, though prices are still higher than they were pre-Harvey. However, prices are expected to steadily decline as refinery activity resumes and fall/winter demand goes down.
San Antonio Express News reports that more than 20-percent of total U.S. refining capacity came to a halt after Harvey made landfall on August 25.
Within a few days, empty pumps were reported at fuel stations across the state. Officials said there was no fuel shortage per se, but that runs on gas stations in anticipation snowballed into a self-fulfilling prophecy.