It's too early to tell if Hurricane Sandy will affect gas prices

Posted: Oct 30, 2012 5:46 PM by Erin Steuber
Updated: Oct 30, 2012 6:00 PM

It's too early to tell if Hurrican Sandy will affect gas prices

Hurricane Sandy has left its mark on the northeast and now the question is, will Sandy affect the gas prices across the nation?

Don Briggs, President of the Louisiana Oil and Gas Association, says the price of oil has naturally been falling since September. Over the past month, the national average price per gallon fell 34 cents. Briggs says the decrease will continue, but has little to do with Hurricane Sandy. Overnight, the price of gas fell about a penny bringing the national average to just over $3.50. Briggs says 3 refineries have been forced to shut down in the northeast, but he says it's too early to tell if there will be any effect on gas prices.

"Well there might be a spike in the northeast, a rise just a little bit, but it's not expected to," said Briggs. "So hopefully we'll see a continued drop in prices."

Briggs says experts are not predicting any significant result nationwide, but it all depends on how long the refineries stay shut down.