SYRACUSE, N.Y. (WSYR-TV) – You ask, we answer!
Idalia made landfall Wednesday morning, August 30, in Florida as a Category 3 Hurricane. The storm is weakening as it moves northeast.
While health and safety for those in the storm’s path is the top priority and by far the most important topic, we do want to take a minute to answer a question that’s often asked when it comes to hurricanes and tropical storms.
Will Idalia cause gas prices to spike nationwide?
When giving insights on gas prices, Patrick De Haan, GasBuddy’s Head of Petroleum Analysis, often gives a warning during the summer that major hurricanes could cause gas prices to rise.
Fortunately, it does not look like Idalia will cause a jump at the pump.
De Haan said hurricanes and storms cause issues when they hit areas with major oil refineries, such as Texas and Louisiana.
Florida does not have many refineries or pipelines, De Haan said, and for those reasons, gas prices shouldn’t be impacted by Idalia.
Gas Prices Finally Falling
After seven weeks of rising gas prices, De Haan said the national average for a gallon of gas is dropping, down five cents in one week.
De Haan said if we can get through hurricane season without refineries being impacted and no major economic swings, gas prices should continue to fall. He said the Syracuse area could see mid to low $3.00 averages by the end of the year.
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