Saturday, 18 November, 2017

Hurricanes Harvey & Irma impact gas prices

Hurricanes Harvey & Irma impact gas prices Hurricanes Harvey & Irma impact gas prices
Saul Franklin | 12 September, 2017, 00:42

Looking at other areas in metro Detroit and northern OH, gas in Ann Arbor is up 3.9 cents to $2.68 a gallon, 11.5 cents in Flint to $2.68 a gallon and down 6.2 cents in Toledo to $2.54.

In Maine, the average price also was $2.73 per gallon, up 1.6 cents from the previous week.

On Monday, prices were at $2.79 per gallon, 10 cents lower than the state average, which went up almost 4 cents per gallon over the same span, according to GasBuddy's daily survey of 5,269 gas outlets in Pennsylvania.

As hurricanes remained in the picture, consumers continued to deal with a spike in gas prices.

AAA says Michiganders are noticing the aftereffects of Hurricane Harvey and Hurricane Irma at gas pumps throughout the state.

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AAA expects gas prices to be held in check up and down the gasoline supply chain, including prices set by refiners, distributors and dealers unless there is a clearly justifiable reason for an increase. There have been spots where gas stations in the region have been unable to keep up with demand.

AAA is closely monitoring Hurricane Irma's track.

Gas retailers in Lowndes County have been operating under anti-price gouging regulations put forth in both state and local emergency decrees. "However, the effects finally starting to weaken as refineries return to production and fuel begins to flow once again from many Houston refineries, said Patrick DeHaan, senior petroleum analyst for GasBuddy".

The lowest average price in MI was about $2.66 per gallon in the Detroit area.

"With summer driving season now over", he said, "motorists stand to benefit from falling demand, which will help refineries bring gasoline inventories back to normal and thus gas prices".

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