Winter Storm In Texas May Drive Up Gas Prices
By Anna Gallegos
February 17, 2021
American drivers may soon be paying more at the pump after a winter storm swept through Texas.
The price of gas will likely rise by 10 cents a gallon in the coming days, CNBC reported.
The average price for a gallon of gas is $2.539, according to AAA.
A cold snap and on-going power outages in Texas are currently disrupting oil production
"In the last 24 hours, there’s been a deep freeze in the heart of Texas which has a lot of oil production, some of that has been shut down as a result of the cold weather. Also, some of the oil refineries that take that crude oil and turn it into products like gasoline have shut down. About 25% of the nation’s refining capacity is shut down in Texas right now," Patrick De Haan, head of petroleum analysis for GasBuddy, told WHAM.
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