What Effect Will Labor Day Travel Have On Wyoming Gas Prices?
As Labor Day Weekend approaches when many people will be traveling, a constant topic at the top of mind for all motorists is the price of gas, especially with such high prices in Wyoming. Meanwhile, about 1,400 miles away, Hurricane Ida has devastated New Orleans, LA, and in the storm's path were several oil refineries, some of which were forced to shutdown production.
As of September 1st, the national average gas price is at $3.17 per gallon. In Wyoming, it's at $3.57 per gallon. In Laramie County, the average price is $3.46 and $3.41 in Albany County. As Labor Day tends to see spikes in gas prices due to millions of people with travel plans will be on the road. The national average gas prices could also see some spikes due to what's happening in the wake of Hurricane Ida.
The storm will affect several states nationwide as that particular area of the country has a capacity for significant gasoline production and petroleum extraction. Exxon, Phillips 66, and Shell were all among companies that shut down their refineries temporarily in anticipation of the massive storm. According to the U.S. Bureau of Safety and Environmental Enforcement, approximately 96 percent of the oil production in the Gulf of Mexico was shut down prior to Hurricane Ida making its way through the area.
AAA spokesperson Jeanette McGee discussed how these shutdowns due to the storm could impact gas prices and travel:
Until the power is restored, it’s too early to know the full impact of any damage Ida caused on the oil and gas industry, but motorists regionally can expect price fluctuations leading into Labor Day weekend...Typically, a category 4 storm could mean three plus weeks before refineries are back to normal operations, while offshore production is more likely to resume this week.
Based on their projections, the national average gas price could very well increase, although it won't really affect Wyoming's gas prices. But going into the holiday weekend, the Cowboy State's gas prices are still 40 cents more expensive than the national average. As is typical with Labor Day Weekend, gas prices tend to drop off so if only we can make it through the busy travel weekend, some relief at the pump may very well be on the horizon.
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