Colonial Pipeline Cyberattack Could Lead to Higher Gas Prices
CHARLOTTE, N.C. – Prepare for pain at the pump.
AAA says a jump in gas prices is expected following the massive cyber attack on Colonial Pipeline.
Much of the system remains offline.
“It’s not uncommon for folks to be completely dead in the water, so to speak, for several days as they work through restoring,” explains Chris Furtick, with cybersecurity firm Fortalice Solutions.
Furtick says while ransomware attacks are becoming more common, the group behind this one likely didn’t intend to target important infrastructure like a pipeline.
“They released a statement on the dark web earlier saying they are not there to create chaos, they are there to make money. That is their financial goal,” Furtick says.
Colonial says it hopes to get the pipeline fully up and running by the end of the week.
Even then, there could still be delays.
That’s because it takes 15-18 days for gas to flow from Texas to New York along the pipeline.