Hurricane Dean Threatens Gas Prices Nationwide
As Hurricane Dean charts a path through the Gulf of Mexico, let’s not forget that Mexico and Venezuela are the #3 and #4 importers of crude oil to United States, respectively.
Because of the storm, many Mexican oil fields and facilities will be forced to operate at reduced capacity. In addition, rough waters will likely delay crude oil shipments by tanker; vessels will not be able to navigate the Caribbean Sea and the Gulf.
With 20 percent of our nation’s imported oil threatened by Hurricane Dean, expect gasoline prices to increase in anticipation of shorter supply. If the storm causes extensive damage, expect that prices will increase again, after the fact.
If you drive your car a lot, it may be best to fill it up early Monday morning to get the lowest prices of the week.
