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class="globe-inner-circle" fill="#FFF" d="M10 1.1c-4.9 0-8.9 4-8.9 8.9s4 8.9 8.9 8.9 8.9-4 8.9-8.9-4-8.9-8.9-8.9zm0 16.7c-4.3 0-7.8-3.5-7.8-7.8S5.7 2.2 10 2.2s7.8 3.5 7.8 7.8-3.5 7.8-7.8 7.8z"/><path class="globe-outer-circle" fill="#848F91" d="M10 20C4.5 20 0 15.5 0 10S4.5 0 10 0s10 4.5 10 10-4.5 10-10 10zm0-1.1c4.9 0 8.9-4 8.9-8.9s-4-8.9-8.9-8.9-8.9 4-8.9 8.9 4 8.9 8.9 8.9z"/></svg>
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    <section class="accounts-list accounts-list-dropdown" data-accounts-list-dropdown>
        <div class="accounts-header accounts-list-dropdown">
            <span class="accounts-icon-wrapper">
                <svg class="svg-icon profile-icon accounts-list-dropdown" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 17 18.8"><path class="profile" fill="none" stroke="#848F91" d="M.5 14.8c.1-1.1 1-2.1 2.4-2.8.5.7 1.1 1.3 1.5 1.7.9.8 2.8 1.2 4 1.2s3.1-.4 4-1.2c.5-.5 1.2-1 1.7-1.6 1.4.7 2.2 1.7 2.3 2.7v3.4H.4l.1-3.4zm8-4c-3.6 0-4.6-4-4.6-6.2S5.9.5 8.5.5 13 2.3 13 4.6s-1 6.3-4.5 6.2z"/></svg>            </span>
            <div class="accounts-header-title">BI ACCOUNTS</div>
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    <ul class="accounts-listgroup">

        
                                                
    <li class="accounts-listitem">
            <a class="accounts-link" href="/login" target="" data-signin-default aria-label="signin">BUSINESS INSIDER</a>

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                            <li class="accounts-listitem signout-listitem">
                                            <a class="accounts-link" href="/subscription/prime" target="" data-signin-default aria-label="signin">BI PRIME</a>


                                            <a class="accounts-link-logout is-access-denied" href="#" target="" data-bi-prime-logout aria-label="signout">SIGN OUT</a>

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<nav class="l-nav l-nav-full" data-nav data-e2e-name="l-nav" data-track-page-area="Navigation">
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                        <li class="verticals-accordion-flex-grow verticals-accordion-listitem" data-vertical-label="tech">
                                                            <label class="verticals-accordion-label " data-e2e-name="vertical-listitem-link" data-vertical-listitem="Tech" for="item1">
                                    <a href="/sai" class="verticals-accordion-listitem-link" data-e2e-name="vertical-listitem-link" data-vertical-listitem="Tech">Tech</a>
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                                                                            <section class="verticals-accordion-subvertical-section">
                                                                                                        <a href="/enterprise" class="verticals-accordion-subvertical-link">
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                                    <a href="/clusterstock" class="verticals-accordion-listitem-link" data-e2e-name="vertical-listitem-link" data-vertical-listitem="Finance">Finance</a>
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                                                                            <section class="verticals-accordion-subvertical-section">
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                        <li class="verticals-accordion-flex-grow verticals-accordion-listitem" data-vertical-label="politics">
                                                            <label class="verticals-accordion-label " data-e2e-name="vertical-listitem-link" data-vertical-listitem="Politics" for="item3">
                                    <a href="/politics" class="verticals-accordion-listitem-link" data-e2e-name="vertical-listitem-link" data-vertical-listitem="Politics">Politics</a>
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                                                                            <section class="verticals-accordion-subvertical-section">
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            News
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                                                                            <svg class="svg-icon chevron-icon verticals-accordion-chevron-icon" data-chevron-icon xmlns="http://www.w3.org/2000/svg" viewBox="0 0 14.4 8.4"><path class="chevron" fill="none" stroke="#848F91" stroke-linecap="square" d="M.7.7l6.5 7 6.5-7"/></svg>                                                                    </label>
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                        <li class="verticals-accordion-flex-grow verticals-accordion-listitem" data-vertical-label="strategy">
                                                            <label class="verticals-accordion-label " data-e2e-name="vertical-listitem-link" data-vertical-listitem="Strategy" for="item4">
                                    <a href="/warroom" class="verticals-accordion-listitem-link" data-e2e-name="vertical-listitem-link" data-vertical-listitem="Strategy">Strategy</a>
                                    <input data-label-transform class="verticals-accordion-input" id="item4" type="checkbox" />
                                                                            <section class="verticals-accordion-subvertical-section">
                                                                                                        <a href="/careers" class="verticals-accordion-subvertical-link">
            Careers
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                                                                                    </section>
                                    
                                                                            <svg class="svg-icon chevron-icon verticals-accordion-chevron-icon" data-chevron-icon xmlns="http://www.w3.org/2000/svg" viewBox="0 0 14.4 8.4"><path class="chevron" fill="none" stroke="#848F91" stroke-linecap="square" d="M.7.7l6.5 7 6.5-7"/></svg>                                                                    </label>
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                        <li class="verticals-accordion-flex-grow verticals-accordion-listitem" data-vertical-label="life">
                                                            <label class="verticals-accordion-label " data-e2e-name="vertical-listitem-link" data-vertical-listitem="Life" for="item5">
                                    <a href="/thelife" class="verticals-accordion-listitem-link" data-e2e-name="vertical-listitem-link" data-vertical-listitem="Life">Life</a>
                                    <input data-label-transform class="verticals-accordion-input" id="item5" type="checkbox" />
                                                                            <section class="verticals-accordion-subvertical-section">
                                                                                                        <a href="/thewire" class="verticals-accordion-subvertical-link">
            Entertainment
        </a>
    
                                                                                                        <a href="/travel" class="verticals-accordion-subvertical-link">
            Travel
        </a>
    
                                                                                                        <a href="/sportspage" class="verticals-accordion-subvertical-link">
            Sports
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                                                                                    </section>
                                    
                                                                            <svg class="svg-icon chevron-icon verticals-accordion-chevron-icon" data-chevron-icon xmlns="http://www.w3.org/2000/svg" viewBox="0 0 14.4 8.4"><path class="chevron" fill="none" stroke="#848F91" stroke-linecap="square" d="M.7.7l6.5 7 6.5-7"/></svg>                                                                    </label>
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                        <li class="verticals-accordion-flex-grow verticals-accordion-listitem" data-vertical-label="all">
                                                            <label class="verticals-accordion-label verticals-accordion-label-last" data-e2e-name="vertical-listitem-link" data-vertical-listitem="All" for="item6">
                                    <a href="/all" class="verticals-accordion-listitem-link" data-e2e-name="vertical-listitem-link" data-vertical-listitem="All">All</a>
                                    <input data-label-transform class="verticals-accordion-input" id="item6" type="checkbox" />
                                    
                                                                    </label>
                                                    </li>

                            
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    <section class="accounts-list accounts-list-exposed" data-accounts-list-exposed>
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        <h1 class="post-headline" >Gas prices are spiking after the biggest US refinery shuts down</h1>
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                                            <div><p> Gasoline prices were surging again Thursday amid refinery closings in Texas caused by Hurricane Harvey. </p><p> Gas futures for September delivery were up 12% to $2.11 a gallon at 10:40 a.m. ET. In their eighth straight day of gains, futures are on their longest rising streak in four years, according to <a href=https://www.bloomberg.com/news/articles/2017-08-30/u-s-east-coast-drivers-to-feel-harvey-s-fury-at-gasoline-pump > Bloomberg</a>. Futures for October delivery also rallied. </p><p> Prices at the pump are also higher. The <a href=http://gasprices.aaa.com/ >AAA</a> average national gas price at 3:43 a.m. ET on Thursday was $2.449 a gallon, up from an average price of $2.348 a gallon last week. </p><p><figure id="img-100455" class="figure image-figure-image  postload" data-type="img" data-e2e-name="image-figure-image" data-media-container="image" style=""><a
                    class="image-click-enlarge"
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            ><postload-img data-src="https://amp.businessinsider.com/images/59a85cf279bbfdba408b6e1c-750-562.png" data-sizes="(min-width: 960px) and (max-width: 1259px) 640px, (min-width: 1260px) 960px, (-webkit-min-device-pixel-ratio: 2) 50vw, 100vw" data-srcset="https://amp.businessinsider.com/images/59a85cf279bbfdba408b6e1c-160-120.png 160w, https://amp.businessinsider.com/images/59a85cf279bbfdba408b6e1c-320-240.png 320w, https://amp.businessinsider.com/images/59a85cf279bbfdba408b6e1c-480-360.png 480w, https://amp.businessinsider.com/images/59a85cf279bbfdba408b6e1c-640-480.png 640w, https://amp.businessinsider.com/images/59a85cf279bbfdba408b6e1c-750-562.png 750w, https://amp.businessinsider.com/images/59a85cf279bbfdba408b6e1c-960-719.png 960w, https://amp.businessinsider.com/images/59a85cf279bbfdba408b6e1c-1136-851.png 1136w" data-alt="8 31 17 gas prices COTD" ></postload-img></a><span class="image-source-caption"><figcaption class="image-caption" data-e2e-name="image-caption">October gasoline futures.</figcaption><span class="image-source" data-e2e-name="image-source"><a href="https://www.investing.com/commodities/gasoline-rbob">Investing.com</a></span></span></figure></p><p><a href=http://www.businessinsider.com/harvey-floods-shut-down-largest-us-oil-refinery-2017-8 > Motiva&#039;s refinery in Port Arthur, Texas,</a> which is the largest refinery in the US, shut down Wednesday as floodwater rose. And on Thursday, Colonial Pipeline, which owns the largest pipeline for gas distribution in the US, had planned to shut down its gasoline line because Gulf Coast refiners were unable to process crude oil, Bloomberg reported. "Deliveries will be intermittent and dependent on terminal and refinery supply," the company said in an <a href=https://harvey.colonialresponse.com/colonial-pipeline-media-update-4-august-31-at-1053-a-m-est/ > update</a>. </p><p> To help with the gasoline shortage, the Energy Department on Thursday <a href=https://www.reuters.com/article/us-storm-harvey-crude-idUSKCN1BB1MZ?il=0 > said</a> it was releasing 500,000 barrels of oil from its Strategic Petroleum Reserve that holds supplies for emergencies. The agency said it loaned the barrels of both sweet and sour crude to a <a href=http://markets.businessinsider.com/stock/psx-Quote >Phillips 66</a> refinery in Lake Charles, Louisiana, which has not been affected by Hurricane Harvey. </p><p> The <a href=http://www.star-telegram.com/news/traffic/gas-prices/article170270997.html > Fort Worth Star-Telegram</a> reported that some gas stations in the area may run out of supplies during the Labor Day weekend. Gas stations on the East Coast could also experience shortages, Bloomberg reported, and this could send gas prices even higher. </p><p> Crude-oil prices rose in a "knee jerk reaction" tracking gasoline following news that Exxon Mobil was shutting down its Beaumont, Texas, refinery for up to two weeks, according to Jesse Cohen of Investing.com. The closing of the Motiva refinery and news that the storm Irma had strengthened to a hurricane and could hit Gulf production provided another boost, Cohen said. </p><p> The front-month West Texas Intermediate crude-oil contract gained 2.5% to $47.09 a barrel but remained on track for its fifth straight weekly decline.


    
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	            <a href="http://www.businessinsider.com/hurricane-harvey-economic-impact-2017-8" class="see-also-link" data-e2e-name="see-also-link">Hurricane Harvey could be the costliest natural disaster in US history — here&#039;s how we&#039;ll know the true cost</a>
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