Colonial Pipeline leak affects gas prices on Eastern Shore

A gas pipeline leak in Alabama is leading to spikes in gas prices along the Eastern United States. CNN estimates 50 million people are affected, among them are residents on the Eastern Shore.

“It was cheaper even in the summertime and then all of a sudden  within maybe the past week it went up.” says Beth Dreher, from Powellville.

Dreher works at a gas station and has seen the price increase first hand.

“It went up  to 2.01 and then to 2.19 and then it just bumped to 2.29,” says Dreher.

Also feeling that bump  is Brendan Fagan. Fagan is a sophomore at Salisbury University   tells 47 ABC he’s glad he doesn’t have to drive long distances around campus, but when he has to drive home to Montgomery County , it’s a different story.

“When I’m back at home and I’m driving a lot more it does affect me,” says Fagan.

As of Tuesday , AAA says the leak of the Colonial Pipeline in Alabama has caused distribution issues  and ultimately higher gas prices. Since last week — the price of a gallon of regular has increased 10 cents in Delaware, 8 cents in Virginia , and 8 cents in Maryland. However, it’s worse on Maryland’s Eastern Shore , which has seen a 20 cent spike. Dr.Tylor Claggett, a finance professor at Salisbury University, says the higher prices stem from uncertainty of when the merchants will be supplied next.

“We are going to be in for a time of volatility in the retail gasoline market. It has come up rapidly, and I suspect when the supply gets back to normal the prices will come down. But maybe not as rapidly,” says Professor Claggett.

Professor Claggett tells 47 ABC prices will come down within a few weeks. In the meantime he advises people to be patient  and not run to the tank unless you absolutely need to fill up.

“One of the things that people tend to do if they really think there is a shortage, they hoard. And they top off their tan, and everyone is riding around with a full tank of gasoline, and that makes  a shortage become a reality,” says Professor Claggett.

Tuesday afternoon, the Colonial Pipeline announced on Twitter that construction and the positioning of the bypass segment has been completed, and the the main gasoline line is expected to restart Wednesday.

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