Buffalo, NY (WBEN) A run on gas following a computer hack of the nation's largest fuel pipeline has much of the southeast in a panic and scrambling for gas supply.
The cybersecurity attack on the Colonial Pipeline has prompted fuel-hoarding and panic-buying in parts of the Southeastern U.S., striking fear and stress among those who've waited in long lines for gas. And while Colonial initiated the restart of pipeline operations late Wednesday, the company said it will take several days for deliveries to return to normal.
As drivers in the southeast hope to get their gasoline supply back, Western New York drivers won't have to worry about the out of fuel signs going up, but they will have open their purse strings a little more.
Patrick DeHaan of Gasbuddy.com says the primary reason is Buffalo is served by the New York Harbor market.
"There's plenty of supply in the New York Harbor Market," says DeHaan. "Really, what we're contending with is this pipeline, is there's a no man's land, where the further you get from New York and the further you get from Houston, the more challenges you tend to have."
DeHaan says Buffalo is very close to the New York Harbor and supply is bountiful.
DeHaan says WNY is not escaping the higher prices at the pumps.
"The factors that existed prior to the Colonial Pipeline shutdown do continue to push prices up. Buffalo's average price per gallon is up 4 cents in the last week, the national average is 6 cents," explains DeHaan. "A lot of it has to do with COVID recovery that continues. Americans are driving, demand is going up, the price of oil is going up. That probably won't stop anytime soon."
DeHaan says it's possible we could see $3 a gallon for gasoline by Memorial Day.
