AAA: Storms in the Gulf Could Impact Low Prices at the Pump in Florida

While gas prices in Florida are continuing to slide lower, AAA warned that they could be impacted by storms in the Gulf.

AAA released a report on Monday showing the week began with the average gallon of gas costing $2.07, two cents lower from the start of last week and below the national average of $2.19. But with two storms now heading towards Louisiana and Texas, those prices could change.

“Nearly half of the refining capacity in the United States is located along the Gulf of Mexico, predominantly along the Texas and Louisiana coastlines. Hurricane Marco and Tropical Storm Laura are both forecast to make landfall in Louisiana in the coming days. Nearly a dozen oil refineries near New Orleans are in the hurricane warning area,” AAA noted.

“The potential for a price hike is always there, when a hurricane threatens the gulf coast refinery region,” said Mark Jenkins, a spokesman for AAA and the Auto Club Group. “So far, oil and gasoline futures prices have remained low, likely because Marco and Laura are not forecast to reach major hurricane status. Either way, incremental increases are possible if these storms cause damage resulting in long-term impacts to oil rigs, refineries or the fuel supply chain as a whole.”

West Palm Beach had the most expensive gas in the state on Sunday with an average of $2.20 a gallon followed by Tallahassee and Gainesville which both saw averages of $2.18 a gallon.

Punta Gorda had the least expensive gas in the state on Sunday with an average of $1.96 a gallon followed by Orlando at $2.01 a gallon and the Tampa-St. Petersburg-Clearwater market at $2.02 a gallon.

 

 

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