Weekend deadline to prevent major hit to summer travel from Colonial Pipeline shutdown
by Zachary Halaschak, Economics Reporter |
| May 12, 2021 06:23 AM
Reopening the Colonial Pipeline by the weekend will be key to mitigating summer travel disruptions.
The 5,500-mile pipeline, which is responsible for nearly half of the East Coast’s fuel supply, was attacked by a hacking group causing it to be shut down on Friday. Gas prices are now averaging nearly $3 per gallon and are expected to rise the longer it is shuttered. The company said it aims to return it to normal service by the end of the week, but the longer it is down, the more travel will be hurt. Gas market watchers say that the problem must be addressed by the weekend to prevent major fallout.
“About gas prices … they shoot up like a rocket or like fireworks, and they come back down as slowly as a feather,” John Townsend, manager of public and government affairs for AAA Mid-Atlantic, told the Washington Examiner on Tuesday.
Townsend’s remarks come the same day that AAA released its Memorial Day travel forecast. It predicts a “significant rebound” from last year, with more than 37 million people expected to travel 50 miles or more from home, an increase of 60% from 2020. While robust, the number is still 6 million travelers short of 2019.
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https://www.washingtonexaminer.com/news/weekend-goal-fix-colonial-pipeline-critical-summer-travel-impacts
