Hurricane Harvey upping costs around the nation

(KSFY) - As officials continue to assess the damage from Hurricane Harvey, the governor of Texas has already asked for $125 billion in federal aid to help with recovery.

The financial burden to homes, vehicles, businesses and more in Texas will likely be felt across the nation as well.

Because Texas is such a major player in the oil and gas industry, the most immediate impact people all over the country are already feeling is a spike in gas price.

South Dakota has seen an average increase of seven cents this week, but prices could jump even higher next week.

"There are 10 refineries that have closed in the Corpus Christi-Houston area, early indications are that there hasn't been significant damage, so hopefully those refineries will come back online soon," AAA Travel Public Affairs Representative Marilyn Buskohl said.

Other immediate travel plans like cruises out of Galveston ports and flights out of Houston are also impacted.

"It's the fifth largest airport in the United States so that has impacted a lot of travelers," Buskhol said.

More than half a million vehicles are expected to be totaled out from Hurricane Harvey.

"They're going to be buying cars from all over the country to fill their orders down there, which is going to be fighting with the rest of the country, and it will probably drive prices up a little bit," Vern Eide General Manager Steve Eggebraaten said.

While a new car may cost a little more, insurance rates in South Dakota should not be impacted.

"Every state is on their own, so rate is made within the state, so losses are paid out of premiums collected in the individual state, so you can rest assured that in South Dakota, our losses our going for losses that occur in our state," State Farm Agent Ryan Reiner said.

Other financial impacts could be felt in several industries months or even years down the road.

"The products that are going to go into when they start rebuilding from Harvey will be a lot of what they call southern yellow pine or southern products," Scott's Lumber General Manager Mark Kozel said. "If they can't buy it in the south, then they come to the north and buy it and that will eventually put pressure on the product as well, but it might be six months to a year down the road before we see that."