AAA: Gas Prices Remain Low Despite Gulf Hurricane Threat

Daytona Beach, FL - AAA’s newest report shows gas prices remaining on the same trend they were on last week despite a pair of tropical systems that are targeting the Gulf Coast. Which is slightly worrying to analysts, especially since almost half of the refining capacity in the United States sits along the coastlines of the Gulf, mostly in Texas and Louisiana. "The potential for a price hike is always there, when a hurricane threatens the gulf coast refinery region," said Mark Jenkins, spokesperson for AAA. "Either way, incremental increases are possible if these storms cause damage resulting in long-term impacts to oil rigs, refineries or the fuel supply chain as a whole." Jenkins also added that oil and gasoline futures prices have remained low, likely because Hurricane Marco and Tropical Storm Laura are not forecast to reach major hurricane status. Florida, which remains out of the paths of Marco and Laura, saw another decrease of two cents since last week, bringing this week’s beginning average down to $2.07 per gallon (regular unleaded). But, despite the average, drivers in some Florida cities are finding prices below $2 a gallon. Currently, Volusia drivers are paying an average of about $2.06, which is a cent less than the state’s average and three cents less than last week’s average. Flagler drivers, on the other hand, are seeing the same average they saw last week with $2.11 per gallon. The West Palm Beach-Boca Raton area is also looking at the highest averages in the state again with $2.20 per gallon, while Punta Gorda drivers have the lowest again with $1.96 per gallon. The nationwide average is $2.18.