Depending on what damage is done by Hurricane Harvey, there could be a spike in Canadian gas prices for the coming week.
Gasbuddy.com says about a dozen gas refineries were in the path of the Hurricane that hit the mainland of Texas this weekend off the Gulf Coast.
The high winds are one problem but flooding is another with major storms like the one that hit Texas.
Flooding was expected to be a problem.
The Texas refineries can withstand wnds from Category 5 storms but flooding could shut them down.
Texas refineries supply fuel to cities as far away as New York and Boston so any shutdowns would put pressure on refineries in Atlantic Canada and Ontario that also serve the U-S.
There are evacuations in the Houston area as Hurricane Harvey has caused severe flooding outside of the city.
Harvey is expected to be downgraded to tropical depression today.
At least two deaths and more than a dozen injuries are blamed on the storm.
A 12-cent a litre spike in gas prices occurred in 2008 when Hurricane Ike hit Texas.
We’ll have to wait until at least Wednesday to see if the price is affected.
IRAC’s next scheduled price change is next Friday, September 1st.
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