Price of gas amid Colonial Pipeline hack 'contingent' on shutdown timeline: Analyst [FOX Business Network]
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Source: FOX Business Network
Head of petroleum analysis at GasBuddy Patrick DeHaan points to the 'quietness on the part of the administration' and Colonial Pipeline that makes the situation 'potentially more worrisome.' Head of petroleum analysis at GasBuddy Patrick DeHaan told " Mornings with Maria " on Monday that an increase in the price of gas amid the Colonial Pipeline hack is "contingent" on the timeline of the shutdown. "I think for most of the country there's not going to be any real significant pricing impact," he said. "I think in the southeast really it depends and we could see an exponential increase starting in the next few days." VARNEY: COLONIAL PIPELINE ATTACK COULD BE 'ACT OF WAR' DeHaan made the comments, three days after the largest gasoline and diesel pipeline in the U.S. abruptly shut down after a cyberattack and one day after The Federal Motor Carrier Safety Administration issued a regional emergency declaration in 17 states and the District of Columbia in response to the situation.
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