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Gas Prices Remain High Despite Falling Crude Prices

by Leanne Gregg
NBC News

In Charlotte, North Carolina this week some stations had no gas. 

Elsewhere in the Midwest and Southeast, supplies have been short, lines long, and prices high.

Industry analysts say it could be another two weeks before prices and supplies stabilize, even though damage from Ike to Gulf Coast refineries and pipelines was less than expected.

Power outages from the storm shut down production are slowly being restored.

"We have a wide swath of this country from Texas to Ohio that still has power problems and that affects the pipelines, that affects the terminals, and that's going to affect your ability to get gas," said the National Association of Convenience Store's Jeff Lenard.

Since Sunday, the average price of gas nationwide jumped eight cents.

While some retailers raised prices in anticipation of shortages, panic buying added stress on the system.

Fuel issues could return to normal by mid-October depending on if, when and where the next major storm strikes.

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