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Gas prices could climb higher during hurricane season

Gas prices in most of the WBTV viewing area are just 50 cents shy of $5 a gallon, and that number could creep higher with the likely active hurricane season.
The latest update from AAA says the average price of a gallon of regular gasoline in North Carolina is $4.52, a jump of 17 cents over the last week.
Published: Jun. 6, 2022 at 5:17 AM EDT
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CHARLOTTE, N.C. (WBTV) – Relief at the pump hasn’t come yet for the Carolinas.

Gas prices in most of the WBTV viewing area are just 50 cents shy of $5 a gallon, and that number could creep higher with the likely active hurricane season.

At the Shell station on Park Road, gas prices are $4.59 a gallon for regular fuel. The latest update from AAA says the average price of a gallon of regular gasoline in North Carolina is $4.52, a jump of 17 cents over the last week.

In South Carolina, the average is $4.47, an increase of 21 cents over the past seven days. The national average is $4.86 a gallon as of Monday morning.

A new report is expected on Friday.

As these gas prices remain high, business analysts fear they could creep higher.

Tropical Storm Alex hit early Sunday morning after the system dumped a lot of rain in Florida. According to JPMorgan analysts who spoke with Business Insider, the Atlantic hurricane season is supposed to be busy and if it causes plants to go offline in places like Texas and Florida as in previous years, the U.S. could run low – or even out – of certain fuels.

Related: Tropical Storm Alex heads toward Bermuda with high winds

“Will we see a hurricane disrupt refining? If we do, that could prolong how long it will take to see a reprieve in prices. We’re simply biding time until the next major headline,” Patrick De Haan, fuel analyst for GasBuddy, said.

According to the U.S. Energy Information Administration, 47% of the total U.S. petroleum refining capacity is on the Gulf Coast.

Find the cheapest gas in your area by using our gas tracker.

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