US Gas Prices Surge Seven-Year High : Fifth Day Of Cyber Shutdown

US gas prices surge to seven-year high on fifth day of DarkSide cyber shutdown of Colonial Pipeline:

Fuel distributors warn of ‘catastrophic’ shortages as Putin denies link to hackers
  • The national average for retail gasoline prices was at $2.985 as of Tuesday, which is the highest in seven years 
  • The last time average gas prices were above $2.99 was back in November 2014 
  • Colonial Pipeline has said it is trying to ‘substantially’ restore operations by the end of the week but reports of gas shortages are already emerging 
  • Fears of a looming shortage have already prompted panic buying with gas stations in various cities already running out of fuel or restricting sales
  • Motorists were also lining up in Florida, North Carolina, Georgia and Virginia
  • The 5,500 pipeline, which runs from Texas to New Jersey and transports 45% of the East Coast’s supply, shut down five days ago following the ransomware hack
  • The FBI has confirmed that DarkSide, a Russian hacking outfit made up of ransomware veterans, was responsible for the attack 
  • Colonial, which is based in Atlanta, Georgia, has not yet said whether it has already paid or is negotiating a ransom with the hackers 
  • Russian President Vladimir Putin on Tuesday denied any involvement 

Russian President Vladimir Putin on Tuesday denied any involvement. His spokesman said: ‘Russia has nothing to do with these hacker attacks, and had nothing to do with the previous hacker attacks. We categorically do not accept any accusations against us.’ 

Gas prices have spiked to a seven-year high after Colonial Pipeline was forced to shut off the nation’s biggest fuel pipeline in the wake of a cyberattack as some fuel distributors warned of ‘catastrophic’ shortages across the South and Northeast. 

The national average for retail gasoline prices was at $2.985 as of Tuesday, according to the American Automobile Association. The last time the average gas prices were above $2.99 was back in November 2014.

Colonial Pipeline has said it is trying to ‘substantially’ restore operations by the end of the week but reports of gas shortages are already emerging with motorists lining up from Florida to Virginia.

From The Daily Mail

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