Sandy Not Expected To Affect Gas Prices


gasRefinery shutdowns on the East Coast resulting from Hurricane Sandy are not expected to affect gas prices, experts said Tuesday, according to The Hill

Dormant cities – stripped of electricity, public transportation and motorists – negated the supply crunch that traders had expected leading up to the storm, analysts said in various news reports.

That could lessen the chance of a gas price spike in the final week before the Nov. 6 election.

GOP presidential nominee Mitt Romney has often mentioned that average prices were $1.89 per gallon when President Obama took office in January, 2009. On Tuesday, prices for regular unleaded fuel averaged $3.53 per gallon nationally, according to AAA.
Much like Tuesday, the January, 2009, prices represented a drop in overall energy demand. At that time, the drop was a result of the global economic downturn.

{Andy Newscenter}