QUESTION:
What does tropical storm Florence mean for gas prices?
ANSWER:
Experts say gas prices might be affected, but not likely by a large increase
SOURCES:
GasBuddy, Energy Information Administration and AAA Mid-Atlantic
PROCESS:
Hurricane Florence has only just made landfall, but that hasn't stopped people from looking forward to the aftermath impact of the storm nationwide
The Verify team checked out if we'll all be feeling the affect of Florence when paying at the pump.
Our Verify team has been answering viral Florence questions all week long. This latest one getting a lot of attention-- will Hurricane Florence impact gas prices? So went to experts from GasBuddy, Energy Information Administration and Triple A Mid-Atlantic for answers.
GasBuddy experts said after the storm leaves affected areas like the Carolinas and Georgia, they may have logistical challenges getting gas to those stations due to flooding or damage, but it won't result in widespread gas price spikes.
According to AAA Mid-Atlantic ,the impact of Florence will not lead to a gasoline shortage across the country and if gas prices fluctuate, that's due to the price of oil rising and falling.
Experts from EIA told WUSA9 researchers there are no refineries producing substantial amounts of transportation fuel in the Florence-hit areas.
But EIA spokesperson Mason Hamilton explained, supply disruption then leading to gas price affects could happen if the Colonial or Plantation oil pipelines are impacted by the storm.
So we can verify yes Hurricane Florence could have impact on gas prices, but experts say if it happens it will be minor.
Senior petroleum analyst at GasBuddy, Patrick DeHaan, said "Gas prices will eventually fall due to lower autumn demand and a switch to cheaper winter gasoline that takes place this weekend. This event is very unlikely to drive broad large price increases.”
