NORTHERN VIRGINIA (WDVM) — Governor Ralph Northam has declared a state of emergency for Virginia after the Colonial Pipeline cyber attack. What does this mean for gas prices?
The American Automobile Association (AAA) announced that Virginia is one of the most likely states to be negatively impacted by the outage.
The Colonial Pipeline, which delivers 45% of all fuel to the east coast, has been shut down since the weekend, due to a cybersecurity attack.
As a result, AAA says that gas prices may increase in Virginia between three to seven cents this week, and certain stations may have fuel shortages. While many consumers’ first instinct is to panic buy, Jonathan Townsend, manager of public and government affairs for AAA, says this will actually add fuel to the fire.
“We can make the situation worse by panic buying and topping off your tank because there will be shortages if that occurs,” said Townsend.
Prices have already increased in the state. Virginia’s average $2.76 per gallon has jumped three cents on the week, and five cents over the last month.