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Here's What to Expect from Gas Prices in the Wake of Hurricane Irma

Here's What to Expect from Gas Prices in the Wake of Hurricane Irma

Read full article here - Jacksonville Business Journal - September 12, 2017 

A senior petroleum analyst has indicated the recent surge in gas prices after Hurricane Harvey are waning, and that prices should continue to decline despite the latest devastating hurricane that hit Florida this weekend.

Patrick DeHaan, senior petroleum analyst for GasBuddy.com, said gas prices are declining in many places and motorists should be gearing up for lower prices in the coming weeks. That's because prices that shot up after Hurricane Harvey inundated significant refineries along the Texas coastline are softening as the refineries come back online. While Hurricane Irma devastated parts of Florida over the weekend, driving up gas prices there, it wasn't close enough to any large scale energy industry resources to significantly impact prices for much of the country.  

"Harvey may be long gone, but his wrath continued to drive gasoline prices up in much of the country in the last week. However, the effects are finally starting to weaken as refineries return to production and fuel begins to flow once again from many Houston refineries," DeHaan said. "The national average gasoline price appears to have peaked last week Thursday at $2.67 per gallon and is beginning to slowly decline for the time being."

"Once again, motorists shouldn't expect to see any impact from Irma on gasoline prices due to the path being a considerable distance from sensitive areas of the energy sector. With summer driving season now over, motorists stand to benefit from falling demand, which will help refineries bring gasoline inventories back to normal and thus gas prices, but as many Americans are now acutely aware, the impact on gas prices can outlive a storm, especially one like Harvey."

Florida gas prices were averaging $2.72 a gallon yesterday, according to The Auto Club Group, the second largest AAA club in the U.S. The most expensive gas price averages in the state were in the West Palm Beach/Boca Raton area at $2.80 a gallon, in Miami at $2.77 a gallon and in Fort Lauderdale at $2.75 a gallon.

Florida's least expensive gas per gallon could be found in Pensacola at $2.65, Tallahassee at $2.70 and the Fort Myers/Cape Coral area at $2.70.

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