Current:Home > NewsPort strike may not affect gas, unless its prolonged: See latest average prices by state -Edge Finance Strategies
Port strike may not affect gas, unless its prolonged: See latest average prices by state
View
Date:2025-04-17 12:03:22
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 Gdhauari@gannett.com.
veryGood! (9)
Related
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- 'DWTS' 2018 winner Bobby Bones agrees with Julianne Hough on his subpar dancing skills
- Halle Berry seeks sole custody of son, says ex-husband 'refuses to co-parent': Reports
- South Dakota Supreme Court denies bid to exclude ballots initially rejected from June election
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- Ernesto gains strength over open Atlantic. Unrelated downpours in Connecticut lead to rescues
- New surveys show signs of optimism among small business owners
- D.C. councilman charged with bribery in scheme to extend $5.2 million in city contracts
- What to watch: O Jolie night
- Bama Rush: Recruits celebrate sorority fanfare with 2024 Bid Day reveals
Ranking
- The Grammy nominee you need to hear: Esperanza Spalding
- Who is Mike Lynch? A look at the British tech tycoon missing from a sunken yacht in Sicily
- Little League World Series: Live updates from Monday games
- Democrats seek to disqualify Kennedy and others from Georgia presidential ballots
- Meta releases AI model to enhance Metaverse experience
- RFK Jr. to defend bid to get on Pennsylvania ballot against Democrats’ challenge
- 50 years on, Harlem Week shows how a New York City neighborhood went from crisis to renaissance
- Semi-truck catches fire, shuts down California interstate for 16 hours
Recommendation
In ‘Nickel Boys,’ striving for a new way to see
Federal government grants first floating offshore wind power research lease to Maine
Tamirat Tola and Hellen Obiri look to defend titles in New York City Marathon
'Boy Meets World' star Danielle Fishel diagnosed with breast cancer
The Louvre will be renovated and the 'Mona Lisa' will have her own room
The Real Housewives of Salt Lake City Cast Is More Divided Than Ever in Explosive Season 5 Trailer
Khadijah Haqq's Ex Bobby McCray Files for Divorce One Year She Announces Breakup
'DWTS' 2018 winner Bobby Bones agrees with Julianne Hough on his subpar dancing skills