Hurricane Florence won't cause widespread gasoline price spikes, analyst says
Hurricane Florence will not cause widespread spikes in gasoline prices, an analyst says.
Supply continues to flow out of refineries at normal levels, said Patrick DeHaan, senior petroleum analyst at GasBuddy. No refineries have shut down because of Florence.
“The good news for motorists is that this is not an event that will result in widespread gas price spikes. Refiners are unhindered and out of the way of the storm, so gasoline keeps flowing,” DeHaan said.
Gas prices are likely to fluctuate in coming days and weeks, but because of other factors such as the price of oil rising or falling, he said.
“There may be minor price movements, mainly in the hardest hit areas as a result, but only in a worst case scenario,” he said. “Gas prices will eventually fall due to lower autumn demand and a switch to cheaper winter gasoline that takes place this weekend.
“This event is very unlikely to drive broad large price increases.”
Brian Rittmeyer is a Tribune-Review staff writer. You can contact Brian at 724-226-4701, email@example.com or via Twitter @BCRittmeyer.