A Small Spike in Gas Prices is Expected After Storm Sandy - KCOY Santa Maria, Santa Barbara, San Luis Obispo - News

A Small Spike in Gas Prices is Expected After Storm Sandy

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By Chloe Beardsley - email

Gas prices are likely to go up for a bit after post-tropical storm Sandy hits the East Coast. Right now experts are saying they only expect to see a small, temporary bump in gas prices.

Oil Price Information experts say they can't gauge how big of an impact it will be until the storm hits. If there is serious damage to the refineries gas prices could soar a little bit. Big oil refineries in the areas where the storm is hitting have either shut down or significantly decreased oil production to minimize possible damage.

On Monday gas prices went up around $.10 a gallon for wholesalers still bringing in deliveries to storm areas. The Oil Information Service said a spike in gas prices is likely to be temporary since there won't be as big of a demand for gas in areas struck by the storm.

 AAA reports that gas has gone down $.27 nationally since September. They expect numbers to continue to decrease through November after Storm Sandy hits.

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