Attack on Colonial Pipeline felt at the pump, R.I prices up five cents
PROVIDENCE, R.I (WLNE) – AAA forecasts gas prices to climb this week after the Colonial Pipeline, which delivers about 45% of all fuel to the East Coast, was shut down following a cybersecurity attack.
Colonial Pipeline announced they were the victim of a cybersecurity attack over the weekend, and as a reaction, shut down the pipeline, which runs from Texas to New York Harbor.
According to AAA, some lateral lines have reopened, but there is no word of when the mainline will be operational.
Rhode Island’s average gas price is up five cents from last week, going from $2.83 to $2.88 per gallon.
These prices are 95 cents higher than May 10, 2020, but remain lower than the national average by eight cents.
“This shutdown will have implications on both gasoline supply and prices, but the impact will vary regionally. Areas including Mississippi, Tennessee and the east coast from Georgia into Delaware are most likely to experience limited fuel availability and price increases, as early as this week,” said Lloyd Albert, Senior Vice President of Public and Government Affairs for AAA Northeast.
“These states may see prices increase three to seven cents this week”, he continued.
The longer the pipeline is offline, the larger the impact will be on the East Coast, but foreign gasoline imports and other pipelines can supplement the Northeastern supply.
Other areas of the country will see little impact.