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Panic buying spikes amid Colonial Pipeline shutdown following cyberattack
FOX 29's Steve Keeley has more on how the Colonial Pipeline shutdown is impacting the Delaware Valley.
CHERRY HILL, N.J. - A major pipeline is back online, which means no more long lines at gas stations. Though, there was never really any need for those long lines to begin with. Analysts say there was never any shortage. Just a lot of panic. It’s like toilet paper hoarding all over again.
Gas prices rising, amid the five-day long Colonial Pipeline shutdown.
"This is the first time I’m filling up since it happened, which will be painful," stated Ethan Long.
The pipeline is back online, but the effects could be last a couple of weeks.
"I had a friend post and said passed 10 different gas stations, to find one open in North Carolina," Pat McCauley said.
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As pipeline starts up, leaders try to calm the public after fear of gas shortages
Jennifer Joyce reports on the several reasons gas prices have trickled up as the Colonial Pipeline comes back online.
AAA Spokesperson Jana Tidwell says the Delaware Valley isn’t seeing much impact, at the moment. She says those higher gas prices is a perfect storm. Gas prices always go up this time of year, because summer-blended gasoline is more expensive, plus the pipeline shutdown and a higher demand.
"National gas price average hit $3 a gallon Wednesday for the first time since 2014. That’s a big sticker shock to a lot of people," Tidwell remarked.
Tidwell says people should resist the urge to panic buy.
"We’re seeing lines miles long and, in some areas, people feeling the need to top off out of panic and when we do that, it depletes the gasoline supply," Tidwell added.
The Consumer Product Safety Commission even putting out a tweet saying: "Do not fill plastic bags with gasoline."
Pa. Governor Wolf and Delaware Governor Carney also trying to calm people on Twitter.
Credible.Com Personal Finance Expert Dan Roccato says prices will level off soon.
"We're coming out of pandemic, the economy is getting better, people are driving more. So, naturally prices start to trickle up. Prices should moderate past Memorial Day weekend. I wouldn’t expect much relief at the pump until at least then," Roccato explained.
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Colonial Pipeline restarts operations, says return to normal service will take 'several days'
Colonial Pipeline attack: Will gas prices rise nationwide?
Virginia Gov. Ralph Northam issues state of emergency to address gasoline supply disruptions
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