New York Pump Prices May Soar If Hurricane Harvey Ravages Texas
- East Coast refiners may benefit from stronger profit margins
- Northeast may have to ramp up foreign imports of gasoline
Hurricane Harvey's Impact on the Energy Markets
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A destructive journey by Hurricane Harvey along the Texas coast would probably leave New York drivers paying more at the pump.
Harvey is hammering U.S. Gulf Coast refineries with winds above 100 miles per hour and torrential rain. About 10 percent of the plants are offline already in the region, which is the primary supply of motor fuels for the eastern U.S.