GasBuddy Expecting A Jump At The Pump

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gaspump-15

The price at the pump is on the way up. Patrick DeHaan with Gas Buddy says supplies are low because they were “likely affected by Hurricane Hermine.” He adds the storm “shut down a lot of the infrastructure in the Gulf of Mexico.” A lot of the large crude carriers can hold up to two-million barrels of crude oil, and if there’s a large storm that would affect how quickly the oil can be offloaded and brought into the country, supply will take a hit.

DeHaan says there was a drop of 14.5 million barrels of crude oil in the last week alone. “Gasoline inventories plunged over four-million barrels, and the price of oil promptly shot up $2 a barrel, and that’s going to have a quick impact.”

DeHaan expects prices to rise 10¢ to 25¢ at the pump over the next few days. They’ll stay that way for a few weeks and then retreat. Right now, prices have dipped under $2 a gallon at several stations in the area.