U.S. Gas Prices Rise Due To Key Pipeline Shutdown, Energy News, ET EnergyWorld

WASHINGTON: National average gas prices in the United States rose above $ 3 per gallon for the first time since 2014 amid the six-day shutdown of a major fuel pipeline following a cybersecurity attack.

On average, Americans paid $ 3.008 for a gallon of gasoline on Wednesday, up from $ 2.985 the day before and $ 2.927 a week ago, the Xinhua news agency said citing the American Automobile Association (AAA).

On Monday, the American Automobile Club predicted that gas prices would rise this week in response to the shutdown of the Colonial pipeline, which supplies about 45% of all fuel on the East Coast.

“This shutdown will have implications for both the supply and prices of gasoline, but the impact will vary by region,” AAA spokeswoman Jeanette McGee said in a statement Monday.

“Areas like Mississippi, Tennessee and the east coast of Georgia in Delaware are the most likely to experience limited fuel availability and price increases,” McGee said, adding that these states could see prices rise by. three to seven hundred this week.

Energy Secretary Jennifer Granholm on Tuesday urged Americans not to stockpile gasoline.

“It’s not that we have a gasoline shortage. It’s that we have this supply crisis. And things will soon be back to normal,” she said.

On Wednesday evening, Colonial Pipeline announced that the first stage of the restart process began around 5 p.m.

“Following this restart, it will take several days for the product delivery supply chain to return to normal.

“Some markets served by Colonial Pipeline may experience or continue to experience intermittent service interruptions during the start-up period,” he added.

However, a growing number of gas stations along the East Coast are without fuel as panic buying continues amid concerns over gas shortages.

As of Wednesday morning, 28.2% of all gas stations in North Carolina, 17.45% in Georgia and 17.09% in Virginia were gas-free, according to the latest data from GasBuddy, which tracks fuel demand, the price and breakdowns.

The Colonial Pipeline Company has temporarily halted all pipeline operations after the detection of the cybersecurity attack involving ransomware on May 7.

The Colonial Pipeline is the largest refined products pipeline in the United States, transporting more than 100 million gallons of fuel per day to the East Coast.

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