But some energy analysts warned of possible shortages and higher prices if the suspension continues into the week.
The shutdown on Friday of the largest petroleum pipeline between Texas and New York after a ransomware attack has had little immediate impact on supplies of gasoline, diesel or jet fuel. But some energy analysts warned that a prolonged suspension could raise prices at the pump along the East Coast. Nationwide, the AAA motor club reported that the average price of regular gasoline did not budge from $2.96 a gallon from Saturday to Sunday. New York State prices remained stable at $3, and in some Southeastern states like Georgia, which are considered particularly vulnerable if the pipeline does not reopen quickly, prices moved up a fraction of a penny a gallon. There’s been no sign that drivers are panic buying or that gasoline stations are gouging their customers at the beginning of the summer driving season, when gasoline prices traditionally rise. But some analysts warned of gasoline shortages if the shutdown of the pipeline, operated by Colonial Pipeline, continues into the week. “Even a temporary shutdown will likely drive already rising national retail gas prices over $3 per gallon for the first time since 2014,” said Jay Hatfield, chief executive of Infrastructure Capital Management and an investor in natural gas and oil pipelines and storage.
