Current:Home > InvestPort strike may not affect gas, unless its prolonged: See latest average prices by state -Momentum Wealth Path
Port strike may not affect gas, unless its prolonged: See latest average prices by state
View
Date:2025-04-16 16:58:18
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! (7)
Related
- Tom Holland's New Venture Revealed
- Federal shutdown could disrupt patient care at safety-net clinics across U.S.
- Texas death row inmate with 40-year mental illness history ruled not competent to be executed
- A Spanish court rejects appeal to reopen the investigation into tycoon John McAfee’s jail cell death
- Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
- Norway joins EU nations in banning Russian-registered cars from entering its territory
- 3 arrested, including 2 minors, after ghost guns found in New York City day care
- The Supreme Court will decide if state laws limiting social media platforms violate the Constitution
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Marlins rally in 9th inning to take 2-1 lead over Mets before rain causes suspension
Ranking
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Justin Timberlake needs to be a character actor in movies. Netflix's 'Reptile' proves it.
- All the Country Couples Heating Up the 2023 People's Choice Country Awards Red Carpet
- Texas inmate on death row for nearly 30 years ruled not competent to be executed
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- Remembering Stephen tWitch Boss and Allison Holker's Incredible Love Story
- Former Cal State Fullerton worker pleads guilty in fatal campus stabbing of boss
- Georgia Republicans suspend state senator who wants to impeach DA for indicting Trump
Recommendation
Sonya Massey's father decries possible release of former deputy charged with her death
Summer House's Paige DeSorbo Weighs in on Carl Radke and Lindsay Hubbard's Shocking Break Up
Kylie Jenner's Naked Dress Is Her Most Glamorous Look Yet
Remembering Stephen tWitch Boss and Allison Holker's Incredible Love Story
McConnell absent from Senate on Thursday as he recovers from fall in Capitol
GOP-led House committees subpoena Hunter Biden and James Biden business and personal records
Winners and losers of 'Thursday Night Football': Lions make statement with win at Packers
They hired her to train their dog. He starved in her care. Now she's facing felony charges