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Close-up of gas pump sucking up money

Source: altrendo images / Getty

On Monday, there was an explosion along the Colonial Pipeline in Alabama causing a major fire. This pipeline is a system of pipes, thousands of miles long that carries millions of barrels of gas from Texas to New Jersey supplying about a third of the East Coast’s gas. One person was killed and several others were injured and Alabama’s governor has declared a state of emergency to help make sure gas is delivered throughout the state and beyond.  However, the company that operates the pipeline is projecting that it will day days to repair the part that has been shut down, which means probable gas price hikes up and down the coast.