Current:Home > reviewsPort strike may not affect gas, unless its prolonged: See latest average prices by state -Finovate
Port strike may not affect gas, unless its prolonged: See latest average prices by state
View
Date:2025-04-17 19:49:14
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! (1861)
Related
- In ‘Nickel Boys,’ striving for a new way to see
- Trump’s New York hush-money criminal trial could overlap with state’s presidential primary
- Gossip Girl Alum Leighton Meester Channels Blair Waldorf in Stylish Red Carpet Look
- What Biden's unwavering support for autoworkers in UAW strike says about the 2024 election
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- UAW strike latest: GM sends 2,000 workers home in Kansas
- Testimony begins in officers’ trial over death of Elijah McClain, who was put in neck hold, sedated
- Alabama football coach Nick Saban analyzes the job Deion Sanders has done at Colorado
- Meet first time Grammy nominee Charley Crockett
- The suspect in the ambush killing of a Los Angeles sheriff’s deputy is set to appear in court
Ranking
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- Swiss parliament approves ban on full-face coverings like burqas, and sets fine for violators
- Poker player who drew donations for Las Vegas event lied about dying from cancer
- Why Jon Bon Jovi Won’t Be Performing at His Son Jake’s Wedding to Millie Bobby Brown
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- Former federal prosecutor who resigned from Trump-Russia probe says she left over concerns with Barr
- Teen rescued after getting stuck dangling 700 feet above river on California's tallest bridge
- Inside a Ukrainian brigade’s battle ‘through hell’ to reclaim a village on the way to Bakhmut
Recommendation
The Louvre will be renovated and the 'Mona Lisa' will have her own room
Illinois man pleads guilty to trying to burn down planned abortion clinic
Catch some ZZZs: How long does melatonin last? Here's what you should know.
Suspects in child's fentanyl death at Bronx day care get federal charges
Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
GOP lawmakers clash with Attorney General Garland over Hunter Biden investigation
Shots fired outside US embassy in Lebanon, no injuries reported
Booze, brawls and broken sharks: The shocking true story behind the making of 'Jaws'