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Speaking about the impact of Hurricanes Harvey and Irma at the FTR Transportation Conference, analysts estimated that the economic impact on the region could cost GDP 0.5% in the third quarter of 2017.
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The national average gasoline price spiked 27 cents to $2.65 for the week, as a result of Hurricane Harvey's deluge in the Gulf Coast, according to AAA.
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To aid in the effort to bring supplies and fuel to areas affected by Hurricane Harvey, the Federal Motor Carrier Safety Administration and the State of Texas have lifted several trucking regulations to cut down on red tape and smooth the flow of goods.
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Heavy flooding from what is now Tropical Storm Harvey has disrupted commercial fleets in the Houston area, as corporations and fleet management companies have begun reaching out to their employees and fleet drivers to ensure their safety and assess damage to fleet vehicles.
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UPS and FedEx have both pledged $1 million through charitable foundations in support of recovery efforts in Texas and Louisiana following the devastation from Hurricane Harvey.
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Hurricane Harvey, whose heavy rains brought devastating flooding to Houston and much of south Texas, may yet cause more trouble for the region-- the National Weather Service predicting an additional 25 inches of rain through the end of the week in certain areas.
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Meteorologists say the storm could dump up to 30 inches of water on the Texas and Louisiana coasts and are urging drivers to stay off of roads.
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