Current:Home > NewsPort strike may not affect gas, unless its prolonged: See latest average prices by state-LoTradeCoin
Port strike may not affect gas, unless its prolonged: See latest average prices by state
View Date:2024-12-24 01:42:57
Update: US port workers and operators reach a deal to end East Coast strike immediately on Oct. 3. Read more.
Some products, like bananas, auto parts and electronics, may become harder to find amid the ongoing union dockworkers strike. However, one area not expected to be impacted is the oil and gas industry – at least not right away.
On Tuesday, 45,000 union workers walked off the job when negotiations for a new contract broke down, effectively shutting down 36 East and Gulf coast ports that, combined, handle about half of all U.S. ocean imports. The decision represented the International Longshoremen's Association (ILA) first strike since 1977.
Because crude oil, gasoline, natural gas and other liquid fuel exports and imports are handled by "other workers," the U.S. Department of Energy said in a statement Tuesday that the strike "will not have any immediate impact on fuel supplies or prices."
The DOE also said it, in coordination with the White House and other government agencies, will "continue partnering with oil and gas companies as well as electricity generators and utilities to monitor operations and supply chains."
"We encourage all parties to come to the bargaining table and negotiate in good faith – fairly and quickly," the agency said.
Products affected by port strike:Which products could be affected by a lengthy port strike? Alcohol, bananas and seafood, to name a few
Experts on gas prices amid port strike:Will gas prices, supplies be affected by the port strike? What experts say
Prolonged strike could impact gas industry, experts say
Experts who spoke to USA TODAY on Wednesday tended to agree with the DOE's assessment under one caveat: that the strike doesn't become prolonged.
Ernie Miller, CEO of Verde Clean Fuels, said fears of a massive spike in oil prices from either the strike or a wider war in the Middle East following Iran's missile strike on Israel may be exaggerated. The United States has something of a "buffer" thanks to an increase in domestic oil production in the last decade, he said.
"We’re in a very different production scenario now versus years ago when we were a net importer," Miller previously said.
While that domestic stockpile may protect from a shortage in the short term, a prolonged strike "could have consequences," said Stephen Schwartz, Wells Fargo managing director of supply chain, trade and channel solutions.
"Oil and gas imports and exports are typically handled by different workers and go through terminals outside the scope of the current port strike, Schwartz said. "However, a protracted strike could have consequences for energy demand in certain sectors such as trucking, rail and bunker fuel used for cargo ships."
States with most expensive gas prices
According to AAA, the top five states with the most expensive average gas prices, as of Thursday, are:
- California: $4.669
- Hawaii: $4.606
- Washington: $4.021
- Nevada: $3.901
- Alaska: $3.658
States with least expensive gas prices
According to AAA, the top five states with the least expensive average gas prices as of Thursday are:
- Mississippi: $2.677
- Tennessee: $2.728
- Louisiana: $2.749
- Alabama: $2.768
- Oklahoma: $2.782
Gas prices by state
Here's a look at the average gas prices by state on Thursday, according to AAA.
The daily national average ($3.190 per gallon) for regular gas is down slightly from the week prior ($3.220) and the month prior (3.325), and sizably lower than the $3.798 mark from a year ago, per AAA data.
Gabe Hauari is a national trending news reporter at USA TODAY. You can follow him on X @GabeHauari or email him at [email protected].
veryGood! (9632)
Related
- Record-setting dry conditions threaten more US wildfires, drinking water supplies
- Ex-NYPD commissioner rejected discipline for cops who raided Brooklyn bar now part of federal probe
- 'The coroner had to pull them apart': Grandparents killed in Hurricane Helene found hugging in bed
- What to watch: We're caught in a bad romance
- Fire crews on both US coasts battle wildfires, 1 dead; Veterans Day ceremony postponed
- Billie Eilish's Mom Maggie Baird Claps Back at Nepo Baby Label
- Jennifer Hudson gushes about Common and chats with him about marriage: 'You are my joy'
- 'Take action now': Inside the race to alert residents of Helene's wrath
- John Robinson, former USC Trojans and Los Angeles Rams coach, dies at 89
- College sports ‘fraternity’ jumping in to help athletes from schools impacted by Hurricane Helene
Ranking
- 2 striking teacher unions in Massachusetts face growing fines for refusing to return to classroom
- Subway rider shot in the head by police files claim accusing officers of recklessly opening fire
- School of Rock Costars Caitlin Hale and Angelo Massagli Hint at Engagement
- Sarah Paulson Reveals Whether She Gets Advice From Holland Taylor—And Her Answer Is Priceless
- Maryland man wanted after 'extensive collection' of 3D-printed ghost guns found at his home
- Catfish Host Kamie Crawford Leaving MTV Show After 6 Years
- Secret Lives of Mormon Wives’ Whitney Leavitt Addresses Rumors About Her Husband’s Sexuality
- Uncover the Best Lululemon Finds: $49 Lululemon Align Leggings Instead of $98, $29 Belt Bags & More
Recommendation
-
Judge recuses himself in Arizona fake elector case after urging response to attacks on Kamala Harris
-
Blake Shelton Shares Unseen Photos of “Favorite Girl” Gwen Stefani on Her Birthday
-
Ohio girl concedes cutting off tanker that spilled chemical last year in Illinois, killing 5
-
'The coroner had to pull them apart': Grandparents killed in Hurricane Helene found hugging in bed
-
Judith Jamison, a dancer both eloquent and elegant, led Ailey troupe to success over two decades
-
The Daily Money: Is it time to refinance?
-
Amid Hurricane Helene’s destruction, sports organizations launch relief efforts to aid storm victims
-
UNC relocates intrasquad scrimmage from Cherokee after Hurricane Helene’s impact to region