By Bill O’Neil
A slow and steady decline in prices at the gas pump continues around San Antonio and across much of Texas in the aftermath of Hurricane Harvey.
“Unfortunately, this wound is taking a long time to heal” Gasbuddy.com’s Patrick DeHaan told KTSA News, weeks after worries over supply pushed prices up quickly across much of the Southeast and Texas.
DeHaan said it’s a question of supply right now.
“Refinery production has increased–but still quite a bit lower than before Harvey” DeHaan said.
A number of refineries could also begin maintenance work in the weeks ahead, which could also potentially pinch at supply.
“Gas prices will continue to drop as refineries come back online” DeHaan said, adding “Keep in mind there still is a small mount of refining capacity–about 5% of the nation’s capacity–still offline because of Harvey.”
That means for now, the trend will likely remain the same–with full recovery likely still several weeks away.
“Prices will continue to decrease in San Antonio and much of Texas very slowly as inventories of gasoline start to pick up steam” DeHaan said.