Gas Prices Could Spike From Hurricane Sandy

Gas Prices Could Spike From Hurricane Sandy
Wednesday, October 31, 2012 - 8:05am

Gas prices are likely to spike in the days after Hurricane Sandy rips through the Northeast, but they should drop back down before too long.

The largest Atlantic storm ever recorded is making its way through the heart of the East Coast's oil refinery region.
Sandy's fierce winds and unrelenting rain will be pounding major refineries in Delaware, New Jersey and Pennsylvania.
Many have already shut down temporarily.

The real impact would come if damage from flying debris or power outages takes some refineries off-line for several days. One supply chain expert says an extended delay in refinery production could push the national average from today's three-54 a gallon to four-dollars a gallon.

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