Energy

Average price tops $3.02 a gallon as Colonial Pipeline restarts

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A friend carrying a gas container is greeted by a motorist waiting in a lengthy line to enter a gasoline station during a surge in the demand for fuel following the cyberattack that crippled the Colonial Pipeline, in Durham, North Carolina, May 12, 2021.

Jonathan Drake | Reuters

Gas prices have jumped more than 8 cents in the last week as the Colonial Pipeline shutdown disrupted a crucial artery in the U.S. petroleum industry.

The company said it began to restart operations around 5 p.m. ET Wednesday evening, and said Thursday morning that “product delivery has commenced in a majority” of markets. Colonial Pipeline is aiming to restore service to all of its markets by mid-day.

The majority…



Source cnbc.com

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