Do you think Hurricane Dolly will make gas prices go up even higher?

Question

Do you think Hurricane Dolly will make gas prices go up even higher?

Answer 1

no.  

It is making landfall as I am typing and prices are falling.  Go to            

http://www.bloomberg.com/energy    

         When the page comes up look at Nymex RBOB Gasoline Future under the "Change" heading.  If it is in red, the price tommorow will be lower.  If it is in green, the price will be higher.  At the moment , prices should fall about 10 cents in the morning.

That means gas stations will be able to buy tankers of gas for 10 cents less in the morning that they did today.  The new lower prices won't hit the street until next week because those stations have to sell the gas they already bought last week at  a higher price.

Hope that helps.

Answer 2

Latest news-http://ndtvnews.net/

Answer 3

I don't think this hurricane will have a heavy impact on the oil industry. As far as I know, only one oil rig was evacuated, but it shouldn't take a direct hit from the hurricane. Most oil rigs are in the middle part of the Gulf of Mexico, and the hurricane is hitting the southern part of Texas. Another factor is the hurricane is not strong enough to make any major impact.