Hurricane Harvey has forced many refineries along the Texas-U.S. Gulf Coast to shut down. It has many wondering about what impact that may have at gas stations around here.
“Gas is too expensive as it is, so it’s definitely a worry for me,” says driver Monique Michaud.
“If I could fill it up to 120 litres instead of 40 I'd fill it right to the top because you just don't know, right?” says driver Troy Quinlan. “It may be like a cent or it could be 15 cents, who knows?”
In the aftermath of Hurricane Ike in 2008, gas prices in New Brunswick went up 13 cents after significant damage was caused to refineries and petroleum production capabilities on the Gulf Coast.
“Some of the past storms have been more extensive, but this storm is still ongoing so it’s a wait and see if we will match previous storms,” says Fred Bergman of the Atlantic Provinces Economic Council. "To date it has not, from what I can see in the trading markets, but it’s still early days.”
The first clue will begin in New Brunswick on Wednesday at midnight, when the Energy and Utilities Board will make its weekly price adjustment.
“You’re probably looking at over the next couple of weeks, gasoline prices here could rise as much as six cents a litre,” says Bergman. “That may not all happen at once and it could be two to three cents this week, and another two to three cents next week, and maybe even spread over a slightly longer timeframe.”
As residents devastated by Harvey's flood waters look to rebuild, JD Irving is looking at a possible plan to help. An Irving spokesperson has told CTV News the company is working on the logistics of getting lumber to the Gulf Coast and will have more to say on Wednesday.
But back at the pumps, drivers aren’t taking any risks.
“I'll want to watch my budget and make sure I can afford it,” says Monique Michaud. "It’s worrisome because who knows where it could lead or how far it could go?”
With files from CTV Atlantic’s Nick Moore.
