Will our gas prices go up because of the Midwest floods?

Question

If the corn crops are destroyed or delayed will is cause a shortage in Ethanol production and in turn a shortage in gasoline.

Will the government lift the mandate for the Ethanol additives?

Answer 1

Not really. It's because someone in the white house have some interests in the oil industry and wants to mess up the beautiful wilderness of Alaska to drill for oil and become richer. We don't need more oil, we need to have more public transportation and better urban planning.  What happened to all the oil in Iraq ? wasn't that the purpose of the invasion ? To steal their oil ?

Answer 2

Flood or no flood gasoline problems are set by supply-demand.  The supply will be lower secondary to the floods. Assuming STP, yes gasoline prices will increase.

Answer 3

I think it will cost us more in gas. The idiots that decided that we need to put corn in our gas. Well, now we all will pay for it. Until we go back to how things were done about twenty years ago with Reagan. Before the idiot clinton took office we will pay more. Is an idea how about we drill for Oil in Alaska or off the  coast.

Answer 4

Gas will continue to rise until we as a nation take a stand and boycott the use of gasoline engines... if everyone ion the nation refused to use gas for 3 days the oil companies would be forced to lower prices or risk going under.

Answer 5

Being originally from Iowa and now attending college in Missouri I have wondered that. I think there is a good chance we could see an increase but not an immediate one. Missouri has the lowest gas prices and I know most of Missouri, Illinoise and Nebraska are fine. It's northern and mid Iowa that is the problem :S I guess we can wish for the best.

Answer 6

we produce about 30% of our oil consumption. There are not that many oil fields in the mid west. You shoukd be more worried about the wheet and corn and grain futures that will be effected by the floods. Also remeber corn produces ethonal which also contributes to some gas production although it should hardley be enough to matter. The things that effect our oil price is speculation by big hedge funds and banks, supply and demand (although demand has stayed the same over the last two years), war, strike and the value of the dollar.

Answer 7

Probably. Gas companies will use any catastrophe to jack up gas prices. There probably won't be any need to raise them, but they will, all the same.