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Wed, Jul 23, 2014

Hurricane Sandy makes gas prices unstable

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Average retail gasoline prices in Tennessee have fallen 10.1 cents per gallon in the past week, averaging $3.29 per gallon as of Sunday.

This compares with the national average that has fallen 9.6 cents per gallon in the last week to $3.56 per gallon, according to the Tennessee Gas Buddies website.

Including the change in gas prices in Tennessee during the past week, prices yesterday were 2.8 cents per gallon higher than the same day one year ago and are 24.3 cents per gallon lower than a month ago.

The national average has decreased 23.1 cents per gallon during the last month and stands 10.2 cents per gallon higher than this day one year ago.

"With Hurricane Sandy headed for the east coast, there are a number of uncertainties in regards to the impact at the pump for various fuels," said Patrick DeHaan, a senior petroleum analyst with the company. "There is very little to look back at history and compare this storm to, and so far, it remains to be seen exactly how gasoline and diesel prices will be impacted"

He said for motorists west of the Mississippi, there may be little change in prices because of the storm, but as drivers head east, especially in the states to be highly impacted, there may be disruptions at various levels.

"However, any disruptions in supply may be offset by area-wide shutdowns of business, leading to curtailed demand for fuel. We will certainly be keeping everyone up-to-date on the GasBuddy blog throughout the storm," DeHaan said.

The GasBuddy blog can be found at http://blog.gasbuddy.com.

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Business, Economy, Energy, Gas, Hurricane Sandy, Tennessee, Weather
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