DALLAS — As Hurricane Ida pummels Louisiana, about 95% of the gas production in the Gulf of Mexico has been shut down as a precaution.
Still, analysts are saying people do not need to run out and fill up their gas tanks.
“There’s not a lot to worry about in Texas,” Patrick DeHaan, a petroleum analyst with GasBuddy.com, said in an interview. “While there may be a slight increase in prices, it would probably be measured in under 10 or 15 cents a gallon.”
He told WFAA he is waiting to see if the White House will allow the Environmental Protection Agency to issue a fuel waiver that will allow gasoline to be sold earlier than normal, which would help alleviate any fuel supply issues that may arise.
Colonial Pipeline, a massive pipeline that delivers gasoline to the East Coast, has been temporarily taken offline as part of those precautionary measures.
“This is not uncommon,” DeHaan said in a tweet. “Once the storm passes, damage assessments will be made and I would expect a quick return to service.”
On the refinery side, his primary concern is wind damage at refineries, followed by flooding.
He also says the industry is much better prepared for a hurricane than it was in the past, such as when Hurricane Katrina hit in 2005.
“Many of the rigs out in the Gulf of Mexico are built to withstand this weather,” DeHaan said. “There were a lot of lessons learned, best practices improved, construction improved and durability improved.”