Price of gasoline to rise due to Hurricane Laura’s impact in Texas, Louisiana
By John McPhaul
The price of gasoline in Puerto Rico will rise due to the impact of Hurricane Laura on refineries in Texas and Louisiana, Gasoline Retailers Association (ADG by its Spanish initials), President Rafael Mercado confirmed on Thursday.
In a radio interview, Mercado confirmed that “in recent weeks the price of a liter of gasoline in Puerto Rico had risen” by several cents.
Regarding the impact of Hurricane Laura, which made landfall in Texas and Louisiana early Thursday with winds of 150 miles per hour, he said the five largest fuel refineries in the United States were in the path of the then-category 4 hurricane.
Mercado said it is “difficult to predict how much the price of gasoline will rise” until the damage to the refineries and the time it will take to make repairs are evaluated.
Although about 80 percent of the gasoline received in Puerto Rico comes from countries other than the United States, the ADG president noted that the market is sensitive to a decline in fuel refining, and that will eventually lead to a rise in prices.
He said the price of a liter of gasoline in Puerto Rico is presently close to 60 cents.