Fuel prices rocket up

Gas prices have surged in New York City, hitting a high for the year Friday, thanks to Harvey.

The national average price for a gallon of regular gas spiked 7 cents overnight, from $2.45 Thursday to $2.52 Friday, the American Automobile Association said.

In the Big Apple, the average price rose even more from a week ago, up 13 cents to $2.73.

Two major pipelines — one that transports gasoline from the southern US to the Northeast and another that runs north to Chicago — had slowed or stopped as a result of flooding and damage from Harvey.

And the situation may get worse.

“There’s a worry now that most of the Texas refineries could be compromised for weeks rather than days,” said Tom Kloza, the chief oil analyst for the Oil Price Information Service, which tracks prices for Triple-A, according to CNNMoney.

Kloza noted the national average price for a gallon could get as high as $2.75.

Still, Texas Gov. Greg Abbott tried to ease fears of a gas shortage on Friday, saying, “We will not run out.”

“We will be back into a normal pattern before you know it,” he said.

Analysts warned drivers not to panic even as stations run low on gas.

When it comes to gas hoarders, Patrick DeHaan, an analyst for the pricetracking app GasBuddy, warned, “That’s going to make the problem worse, and prices shoot higher and the event will last longer, with more disruption and shortages.”

He urged drivers to “have a sense of calm.”

The Texas attorney general’s office advised any motorists who see gas prices of $4 or higher to report the stations as pricegougers.