Pipeline Shutdown From Cyberattack

A gasoline pipeline from Texas to New Jersey could be down this week after a cyber attack, but this is not expected to affect pump prices in Oklahoma much.

AAA Speaker Mark Madeja of Oklahoma said the state isolated from price hikes, with the main line shutdown of the colonial pipeline.

Cyberattack Forces a Shutdown of a Top U.S. Pipeline - The New York Times

“In our backyard we have Cushing with a large reservoir; we have our refineries here; and the colonial pipeline facilities east of Mississippi, while we have a dedicated line from the [Mexican] Gulf. So, I believe that North East Oklahoma, Oklahoma in general, will be all right, “Madeja said. Madeja said.

A weekend-long ransomware attack struck the Colonial Pipeline, which supplies nearly half of all petrol to the east, and gasoline futures have already gone up. This week, price hikes of 3 to 7 cents per gallon can be seen in Tennessee, Mississippi and East Coast States.

The administration of Biden has loosened the rules for oil transport in order to prevent shortages of supply on the East Coast. In other cases this could lead to missed delivery.

Madeja said anything different from production and supply impacts could quickly lead to a gradual and steady increase in Oklahoma gas prices.

“Now that we start travelling more after COVID, summer vacations are supposed to be off the charts and road trips would be really common. I therefore hope to see several miles of vehicles driven this season. The market in itself would most likely drive up rates, but not by much “Madeja said. Madeja said.

According to the AAA, Oklahoma is actually one of the 10 cheapest petrol markets. The state has an average price of $2.70 per gallon more than the average price of Mississippi, Louisiana, Texas, South Carolina, and Alabama.

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