VIDEO: Oil, Gas Prices To Increase Across the Country Due To Hurricane Harvey

By  //  August 28, 2017

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Harvey took out an estimated 16% of the nation’s refining capacity

ABOVE VIDEO: Gas prices to spike due to Harvey.

(FOX BUSINESS) – Drivers across the U.S. will see Hurricane Harvey’s impact at the gas pump, as the energy hub of southeast Texas faces devastating floods with the storm continuing to churn near the Gulf Coast.

Houston, America’s fourth-largest city, and the surrounding area are facing what the National Hurricane Center has called catastrophic and life-threatening floods.

Emergency crews have made 3,000 water rescues since Harvey arrived late Friday, and government officials have warned that flooding could become worse as more rainfall hits the region.

The National Hurricane Center says Harvey, now a tropical storm, is expected to affect Texas and southwestern Louisiana through Friday.

In addition to swamping homes and businesses, Harvey took out an estimated 16% of the nation’s refining capacity, crimping the industry’s ability to produce gasoline and other fuels.

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