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Hurricane Sandy Will Depress Gas Demand, Cause Prices to Fall
Oct. 29, 2012 10:19AM PST
Oil and Gas InvestingThe Business Insider reported that, although gas prices seem to be temporarily climbing, Hurricane Sandy will likely drive gas prices down, due to an expected dip in demand from drivers.
The Business Insider reported that, although gas prices seem to be temporarily climbing, Hurricane Sandy will likely drive gas prices down, due to an expected dip in demand from drivers.
As quoted in the market report:
Hurricane Sandy will therefore depress regional fuel demand more than supply and should be bearish for crude and product prices at the margin, provided there is no serious and sustained damage to the refineries clustered in Pennsylvania and New Jersey.