Will Hurricane Dorian Impact Prices at the Pump?

By: Pam Corn / September 5, 2019

190905065406-hurricane-dorian-satellite-5-a-m-090519-exlarge-169Despite Hurricane Dorian's effects on the Atlantic coast, both locally and across the nation gas prices are expected to continue to fall as we switch to cheaper winter gasoline.

“While a China/U.S. trade deal could undermine the normal seasonal decline in prices that we anticipate, it’s still nearly guaranteed that average gas prices in nearly every state will stand lower on Thanksgiving and Christmas versus where we stand today,” said Patrick DeHaan, head of petroleum analysis for price-tracking website GasBuddy. “With the changeover to winter gasoline just two weeks away for a bulk of the country, we believe there will be additional drops in gas prices ahead.”

“Not all hurricanes impact prices – in fact, few truly leave a mark, the last being Hurricane Harvey in 2017 which impressively knocked out a third of all U.S. refining capacity.” Hitting the Gulf of Mexico, Hurricane Harvey caused refineries to go offline, along with pipeline disruption. “The number of refineries seeing such impacts for Dorian will likely be zero, and that makes all the difference.”

In the U.S. crude oil production has dramatically increased in recent years. Relying on less stable countries like Venezuela or some of those in the Middle East is no longer a major factor. This gives the U.S. better stability so lower gas prices are available at the pump.  

Here is the Pittsburgh area, prices have dropped down 2.9 cents a gallon with an average of $2.78 gallon based on a local survey of 731 gas stations GasBuddy recently evaluated. This is roughly 15 cents per gallon less than a month ago and 35.2 cents per gallon less than a year ago.

As of today the national average is down 1.9 cents per gallon with an average of $2.56 gallon. That’s 14.6 cents per gallon less than a month ago and 26.1 cents per gallon less than a year ago.

Sources: 

https://triblive.com/local/regional/analyst-hurricane-dorian-not-expected-to-impact-gas-prices/

https://www.cnn.com/2019/09/05/us/hurricane-dorian-thursday-wxc/index.html


Categories: Gas Prices, hurricane season, hurricane Dorian


Pam Corn

Written by

Pam Corn

As Director of Marketing for Guttman Energy, I provide expertise within advertising strategies, digital marketing, and public relations to communicate our key messaging to our stakeholders. I offer diversified leadership, drive innovation and cutting-edge business, branding, to generate interest in Guttman service offerings.


Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.


Comments

Subscribe to our blog

Price Feed

Stay up-to-date on current fuel prices and market trends with our NYMEX price feed (15 minute delay to the live market).

© 2018 Market data provided and hosted by Barchart Market Data Solutions. Fundamental company data provided by Morningstar and Zacks Investment Research. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer.

Categories

Contact Us