Gordon Doesn’t Hit Motorists In The Pocketbook At The Pump

September 6, 2018

Fears that Tropical Storm Gordon could increase gasoline prices have abated after the storm made landfall Tuesday night west of the Alabama-Mississippi border.

The auto club AAA reported Wednesday that Gulf Coast refinery operations were not impacted by the storm.

“Refineries dodged a bullet, but are not out of the woods just yet,” AAA spokesman Mark Jenkins said in a prepared statement. “This year’s hurricane season is far from over. If a major storm moves into the Gulf of Mexico, refineries will go back on alert and pump prices will face renewed upward pressure.”

The Gulf of Mexico is home to nearly half of America’s gas-refining capacity. Futures prices rose on Tuesday, due to the initial threat. Wednesday afternoon, gasoline prices on the NYMEX traded nearly 10 cents below Tuesday’s peak.

AAA forecasts the national average price will drop to $2.70 per gallon this fall, with state averages lower in some cases.

“With just a couple days removed from the summer driving season, it appears fuel prices are already slipping,” Jenkins said. “Pump prices usually push lower in the fall as demand dips and refiners switch to a cheaper-to-produce winter-blend fuel.”

Pictured: Drivers fill gas cans in advance of Gordon Sunday afternoon just across the state line in Atmore. NorthEscambia.com photo, click to enlarge.

Comments

One Response to “Gordon Doesn’t Hit Motorists In The Pocketbook At The Pump”

  1. Jim on September 6th, 2018 9:10 am

    Because the prices are already ridiculously high. What happened to the plummeting prices we were promised during the 2016 campaigns?

Written by William Reynolds · Filed Under News