The price of Petrol at the pumps is predicted to rise to its highest level in over 2 years following tropical Storm harvey.
U.S.A refineries on the Gulf coast have been shut down resulting in a surge of imported petrol. Port Arthur the US’s biggest refinery could be shut for over 2 weeks by flooding. Wholesale prices have risen 5% in the last week.
Petrol is set rise above the cost of diesel for the first time since June 2016. The storm has put approximately a quarter of the US refineries out of action.
The floodwaters have started to recede but it could be months before the crisis is fully over.