Sandy Not Expected To Affect Gas Prices

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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 Heller-Matzav.com Newscenter}

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