Current:Home > MyPort strike may not affect gas, unless its prolonged: See latest average prices by state -Visionary Wealth Guides
Port strike may not affect gas, unless its prolonged: See latest average prices by state
Surpassing Quant Think Tank Center View
Date:2025-04-11 03:10:49
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! (645)
Related
- 2 killed, 3 injured in shooting at makeshift club in Houston
- Go inside Kona Stories, a Hawaiian bookstore with an ocean view and three cats
- Mother’s warning to Georgia school about suspect raises questions about moments before shooting
- Charles Barkley keeps $1 million promise to New Orleans school after 2 students' feat
- The company planning a successor to Concorde makes its first supersonic test
- Grief, pain, hope and faith at church services following latest deadly school shooting
- Will Ja'Marr Chase play in Week 1? What to know about Bengals WR's status
- Sérgio Mendes, Brazilian musician who helped popularize bossa nova, dies at 83
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- Iowa judge rules against Libertarian candidates, keeping their names off the ballot for Congress
Ranking
- Skins Game to make return to Thanksgiving week with a modern look
- Manhunt underway for suspect in active shooter situation that shut down I-75 in Kentucky
- A Rural Arizona Water District Had a Plan to Keep the Supply Flowing to Its Customers. They Sued
- Sérgio Mendes, Brazilian musician who helped popularize bossa nova, dies at 83
- Sam Taylor
- 10 unwritten rules of youth sports: Parents can prevent fights with this 24-hour rule
- All The Emmy-Nominated Book to Television Adaptations You'll Want to Read
- Inside the Gruesome Deadpool Killer Case That Led to a Death Sentence for Wade Wilson
Recommendation
New data highlights 'achievement gap' for students in the US
A 14-year-old boy is charged with killing 4 people at his Georgia high school. Here’s what we know
Taylor Fritz and Jannik Sinner begin play in the US Open men’s final
Jessica Pegula and Aryna Sabalenka try to win the US Open for the first time
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
2024 Creative Arts Emmy Awards: Dates, nominees, where to watch and stream
Alabama congressional district redrawn to better represent Black voters sparks competitive race
Empty Starliner on its way home: Troubled Boeing craft undocks from space station