Hurricane Harvey's effect on gas prices easing; Irma unlikely to raise cost

US stock market opens lower as Hurricane Irma looms

Wholesale gasoline declined a cent to $1.65 a gallon.

In Maine, the average price also was $2.73 per gallon, up 1.6 cents from the previous week.

Gas prices rose by four cents in the Las Vegas Valley, according to GasBuddy.

On Monday, AAA's Daily Fuel Gauge Report had the five-county metro area at $2.725, making its third-highest of the state's largest metro areas behind Atlanta ($2.815) and Athens ($2.732). After Harvey knocked out a quarter of the U.S.'s refining capacity, gas prices increased across the country.

Tropical storm Katia kills two in east Mexico
Some additional strengthening is forecast during the next day or so and Katia could be near major hurricane strength at landfall. Jose is the 10th Atlantic storm named so far this year, following on from Hurricane Harvey and Hurricane Irma .

Gas prices climbed last week during the aftermath of Hurricane Harvey, which cut US refining capacity, and in anticipation of Hurricane Irma's impact.

Even states north of Florida were affected, with 23% of gas stations in Savannah, Georgia, 21% in Augusta, Georgia, and 19% in Charleston, South Carolina out of fuel. The wholesale price of gas is falling, the supply of gas remains high and Gulf Coast refineries shut down prior to Harvey are coming back on line. At this time, Hurricane Irma is moving near the Florida Keys. Once power is restored and roads open, gasoline deliveries will resume. "However, the effects finally starting to weaken as refineries return to production and fuel begins to flow once again from many Houston refineries, said Patrick DeHaan, senior petroleum analyst for GasBuddy".

"Motorists shouldn't expect to see any impact from Irma on gasoline prices due to the path being a considerable distance from sensitive areas of the energy sector", DeHaan said.

The lowest average price in MI was about $2.66 per gallon in the Detroit area.

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