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A sign warns consumers on the avaliability of gasoline at a RaceTrac gas station in Smyrna, Ga., on May 11. The average national price of gasoline has risen to $2.985 a gallon, Bloomberg notes. Photo: Elijah Nouvelage/AFP via Getty Images

Reports of fuel shortages across the U.S. emerged on Tuesday as the national average for gasoline prices soared to its highest level since 2014 amid a key fuel pipeline shut down, per Bloomberg.

What's happening: Operator Colonial Pipeline aims to have service restored by the week's end following last Friday's ransomware attack that shut down some 5,500 miles of pipeline from Texas to New Jersey. The governors of Florida, Georgia, Virginia and North Carolina declared states of emergency Tuesday due to shortage concerns.

Vehicles line up to get fuel at a Sunoco gas station in Sumter, S.C., on May 11. The Federal Motor Carrier Safety Administration issued a regional emergency declaration on May 9 for 17 states and D.C., to keep fuel supply lines open. Photo: Micah Green/Bloomberg via Getty Images
Signs about limiting gas purchases displayed at a Marathon gas station in Smyrna May 11. Colonial said in a statement Tuesday it started a segment of the pipeline and delivered some 41 million gallons of fuel to locations including in the Carolinas, Georgia and New Jersey. Photo: Elijah Nouvelage/AFP via Getty Images
Cars line up at a COSTCO at Tyvola Road in Charlotte, N.C. on May 11. There have been reports of panic-buying across the country. Photo: Logan Cyrus/AFP via Getty Images
A "fuel out" sign posted on an entrance at a Marathon gas station in Elizabethtown, N.C., on May 10. Photo: Andrew Sherman/Bloomberg via Getty Images
Cars line up at a QuickTrip in Atlanta on May 11. Photo: Megan Varner/Getty Images
Cars line up at a Chevron gas station in San Francisco on March 11. Photo: David Paul Morris/Bloomberg via Getty Images

Editor's note: This article has been updated to include governors' emergency declarations and with more photos.

Go deeper

Updated Aug 17, 2021 - World

Tropical Storm Grace complicates Haiti rescue efforts

Buildings damaged due the earthquake in Saint-Louis-du-Sud, Haiti. Photo: Jonathan Alpeyrie/Bloomberg via Getty Images

Tropical Storm Grace lashed Haiti Monday into Tuesday, complicating rescue efforts following Saturday's earthquake that left at least 1,941 people dead, nearly 10,000 injured and tens of thousands homeless.

The big picture: The temporary pause in search and rescue efforts due heavy rain and strong winds from the storm exacerbated growing anger and frustration in affected areas, AP reported.

3 hours ago - Technology

3D printing's next act: big metal objects

Chief Scientist Andy Bayramian makes modifications to the laser system on Seurat's 3D metal printer. Photo courtesy of Seurat Technologies.

A new metal 3D printing technology could revolutionize the way large industrial products like planes and cars are made, reducing the cost and carbon footprint of mass manufacturing.

Why it matters: 3D printing — also called additive manufacturing — has been used since the 1980s to make small plastic parts and prototypes. Metal printing is newer, and the challenge has been figuring out how to make things like large car parts faster and cheaper than traditional methods.

Rising rates may hammer the stock market

Illustration: Sarah Grillo / Axios

Stocks are much more vulnerable to interest rate swings than they used to be.

Why it matters: A sharp rise in rates in early 2022 is the key reason the stock market is off to an ugly start. And with the Federal Reserve making noise about trying to keep inflation in check, rates could go higher.