Gas prices down as oil industry rebounds from Harvey

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People coming off the holiday weekend probably felt a little sticker shock when pulling up to the gas pump.

But, good news! Those prices seem to be lowering.

The devastation left behind by Hurricane Harvey made gas prices climb by more than 20 cents, but that price dropped slightly on Monday as Texas edged toward recovery.

Shipping channels and oil pipelines restarted some of their operations. The energy department also says eight refineries are beginning the process of restarting while four in the gulf are operating at reduced rates.

Meanwhile, the Coast Guard, says it's considering allowing ships to enter Port Arthur, Texas today, home of the country's largest oil refinery.

So what does this mean for gas prices in the long term?

Although they remain high for now, AAA expects prices to decline by mid to late September because early reports do not show significant damage to refineries in Corpus Christi and Houston.

CW33 has partnered with the American Red Cross to help those affected by Hurricane Harvey. Click here to donate.

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