Another hurricane is taking aim at the U.S. Michael is expected to reach land Wednesday and it appears that Florida will take the brunt of the storm but it could extend into Louisiana and other Gulf of Mexico communities. Triple-A Nebraska’s Rose White says they are also tracking the storm to see how it will impact the price at the pump.
White says, “Hurricane Michael is not forecast to interact with a significant number of fuel rigs or refineries which would reduce the odds of a gas spike here in the Midwest. We do not currently expect that Michael will have an impact on gasoline availability or prices at the pump but we do know these things can change quickly as the storm approaches and we will continue to monitor any reports that might impact fuel prices.”
Gas prices in Nebraska increased 13-cents a gallon in the last month. White says that was partly due to refineries shut down for maintenance and that should be complete very soon.
Another issue is the price of crude oil. Prices climbed due to concern of global crude supplies and geo-political tension. Crude oil is now trading for $72 a barrel compared to $50 one year ago. Crude oil prices are at the highest level since 2014.
Gas prices in Nebraska average $2.85 a gallon compared to the national average of $2.91.
Gas prices throughout the state range from $2.60 to $3.15 a gallon. White says 20% of the communities they monitor in Nebraska have gas prices at the $3 mark or more.