Harvey’s effects felt far and wide as gas prices rise

At least 10 oil refineries have been forced to close in the area assaulted by Hurricane Harvey over the weekend. U.S. gas futures spiked as high as 7 percent at one point, having an immediate impact on wholesale petroleum prices and expected to trickle down to retail pricing in about a week. On the bright side, according to Reuters, gasoline price hikes following natural disasters like hurricanes don’t tend to last long.