Gas Prices Could Spike Because Of Irene

PITTSBURGH (KDKA) — While Hurricane Irene batters the east coast, don’t let the nice weather here fool you. Higher gasoline prices in this area could be the result.

“If this storm hits the way they’re anticipating it’s going to hit, we could have complete chaos throughout the eastern seaboard. That’s where all our gasoline comes in from,” Don Bowers of Superior Petroleum told KDKA Money Editor Jon Delano.

Duquesne University Prof. Kent Moors says Hurricane Irene appears to be headed toward some major refining and storage facilities.

“We’re looking at New Jersey, we’re looking at Pennsylvania, we’re looking at facilities in Maryland, we’re looking at facilities as we move up the coast in Rhode Island and Massachusetts,” says Moors.

Bowers says that kind of disruption means one thing.

“What it usually means for prices is they’re going to skyrocket. We could go up to the 89s again.”

That’s $3.89 a gallon.

Moors agrees.

“We may see the price spike up 20, 30, even 40 cents a gallon.”

Delano: “Forty cents a gallon?”

Moors: “Right. It won’t last, Jon, unless there’s massive destruction of facilities. It won’t last, but this is very much a supply and demand situation.”

What may compound the shortage problem, says Bowers, is that this metro region is still on summer gas — which may be hard to replace next week.

“Unless the governor, the state of Pennsylvania, the DEP, and the EPA, the federal government, takes a look at this and authorizes the use — and the marketers can go ahead and start using the 9-0 or whatever gasoline that we can get, we could be in some serious problems,” notes Bowers.

With bad news like this the natural reaction is to run out to your nearest gas station and fill up with lower price gasoline, but all the experts say if you do that it will only make the situation worse.

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One Comment

  1. Tired of the Lies says:

    I think it’s interesting that our gas always seems to come from where the hurricane is going to hit. One of these days the oil companies will just come out and tell us what the are really doing – using a natural disaster to make more money from the general public.

    1. E Davis says:

      I’ve already seen gas increase by $.10 since this and other price-increase-due-to-Irene stories began. Ridiculous.

  2. gassmman says:

    Wasn’t “we’re still on winter blend” part of the reason for prices going up the last time? Hurricane in the gulf = price increase. Hurricane eastern seaboard = price increase. Hurricane in Alaske = price increase. Any reason at all is good! I’ll just keep

  3. Karen S. says:

    I will never understand the way they justify prices. How about the station raises prices when they actually have to pay more from the supplier? How does a gallon of gas cost 40 cents more in anticipation of a possible disruption? Isn’t the gas I’m paying for the same gas I would’ve paid 40 cents less for earlier in the week? How is that not price gauging?

  4. Shy S Falling says:

    Thanks KDKA for finding yet another reason to cause people to panic

  5. yipper says:

    Went up 16cent at the BP In Mt Lebanon.

  6. Jim Horak says:

    Are gas prices really going down? Yeah, right! I’ll believe that when it hits MY pump! All I know is that I am tired of paying huge gas prices. I found a new type of Auto Club. I use their membership gas card by sticking it into gas pump and it gives me 10% right back to my account for the gas purchase. It is really no hassle, a no brainer. With money we save, we enjoy more trips, movies and family fun stuff. You can check them out at , the more that are doing this the more they can discount – its kinda like Cosco or Sam’s Club in that way.

  7. Hotel says:

    Bush”s fault?

  8. 1-2-3 says:

    Price per Barrel down 38%, price per gallon at the pumps down 9%. It’s just called greed by the oil companies, why aren’t natural gas prices down with all that gas in Penna.

Comments are closed.

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