Ida Could Lead To Slight Increase In Gas Prices Ahead Of Labor Day Holiday

CHARLOTTE, NC – Colonial pipeline is back on line following a 36 hour shut down due to Hurricane Ida. The move is likely to mean a minimal impact on gas prices heading into the holiday weekend. As southern oil refineries work to get the power back on.

“I drive for work, so a little bit overwhelming,” said Caley Carbaugh.

About 95% of Gulf oil production was shut down ahead of the storm. That’s roughly 13 percent of the entire country’s refining capacity.

“Refineries are fairly power intensive. It’s not as simple as just firing up a backup generator. We’re talking about tremendous amounts of power. Refineries need direct connections to power,” said Patrick De Haan with Gasbuddy.com.

He says the shutdown will result in minimal interruptions and about a 5 to 20 cent increase in prices over the next two weeks.

“The impact for supply will be limited. Supply will start flowing again from the Houston area refineries up the East Coast,” said De Haan.

The storm’s ripple effect could be felt in the Carolinas and beyond. According to AAA, millions of Americans are expected to travel in the coming week for the labor day holiday,” said De Haan.

“I think we’re going to see even higher numbers than even memorial day because it is that last vacation of the summer,” said Tiffany Wright, a AAA Spokesperson.

Wight says road traffic will see the largest increase.

“We don’t think that gas prices is going to stop people from taking those road trips,” said Wright.