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Analysts say the panic buying is causing an artificial shortage Author: Adaure Achumba Updated: 8:21 PM EDT May 11, 2021
GREENSBORO, N.C. More than 1,000 gas stations across the US Southeast have reported running out of fuel, primarily because of what analysts say is unwarranted panic-buying among drivers.
This has come as the shutdown of a major pipeline by Russia-linked hackers entered its fifth day. The Colonial Pipeline, which delivers about 45% of the fuel consumed on the East Coast, was hit by a cyberattack on Friday. Part of the pipeline runs through Greensboro.
Drivers in the Triad rushed to the pumps at several gas stations to fill up their gas tanks causing long lines Tuesday.
Gas Run Has Begun - Fuel Stations Run Dry Amid Hacked Pipeline
Published: May 10, 2021
Gas shortages are being reported in the Southeast of the US amid the recent cybersecurity attack that temporarily shut down one of the largest pipelines in the US.
Colonial Pipeline Co. Chief Executive Officer Joseph Blount said the company was in the process of restoring its systems but wouldn t resume fuel shipments until the ransomware had been removed, according to Bloomberg.
At the moment, Colonial Pipeline is manually operating a segment of pipeline between North Carolina to Maryland and expects a complete system restore by the weekend. However, gas shortages are already being reported across North Carolina to Florida to Alabama.
By Erica Thomas, managing editor
Fear of fuel shortages and higher gas prices are causing panic in some parts of the southeast after a cybersecurity attack on Colonial Pipeline.
The pipeline, which carries gas from Texas to New Jersey, was shut down after the attack.
On Monday, Colonial Pipeline announced that Line 4, from Greensboro, NC to Woodbine, MD, was operating under manual control.
“As previously announced, while our main lines continue to be offline, some smaller lateral lines between terminals and delivery points are now operational as well,” Colonial released in a statement. “We continue to evaluate product inventory in storage tanks at our facilities and others along our system and are working with our shippers to move this product to terminals for local delivery.”