Higher Than Normal Gas Prices will Come Back Down Soon
Posted on 10/9/2017 3:00:00 AM.

Now that Tropical Storm Nate has become a memory for Louisiana, what will that mean for gas prices? Oil rigs from Louisiana to Alabama were shut down and the industry hasn’t fully recovered from Hurricane Harvey in August. Don Redman from Triple-A says any increase in prices we see will be short lived.

"We might see a surge in the price of crude oil, which will impact the price of gasoline", Redman said. "Anywhere from a nickel to a dime increase between now and next week before things settle back down."

The timing will also affect gas prices as refineries switch from the summer blend to winter grade gasoline, which Redman says could affect prices.

"We start seeing some of those refineries start making that transition to a winter grade gasoline.  We're not out of the woods in the terms of the consumer.    We might see a bump in prices because some of the refineries close down."

Regardless of the storm, Redman says drivers are paying more on average than the last couple of years.

"2015 was under two-dollars a gallon.  Last year, about $2.10 a gallon on average for October.  But here, we're heading into more of the territory of $2.25."
The Bureau of Safety and Environmental Enforcement's New Orleans office estimated less than 15 percent of the oil production in the Gulf of Mexico was shutdown before Tropical Storm Nate, providing over 254-thousand barrels of oil per day.
gas prices, oil prices, oil rigs, AAA, Triple-A

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