There’s plenty of gas say officials
Price drop may end however
There’s plenty of gas say officials
Price drop may end however
POSTED 09/23/2008 - Fuel shortages in parts of the Southeast are being reported but officials say Florida has plenty of gas. Most of the shortages are being reported in Tennessee, although some stations in Tallahassee and Atlanta are also seeing some shortages because of Hurricane Ike.
Other than the panhandle, Florida has not experienced any shortages. Most of the state’s gas supplies are shipped in by tankers and do not utilize the Colonial pipeline – a major distributor of gas for customers from Texas.
In fact, local gas prices have dropped from a high of more than $4.00 a gallon several weeks ago to an average of about $3.70.
According to the Associated Press the drop in price also reflect the increased production from refineries that had been shut down as Hurricane Ike approached the Texas coast. Most of those refineries are back in production, although not all of them are at 100 percent production.
However, industry officials say gas is likely to go higher following a $16.37 per barrel spike in the price of oil on Monday. The prices soured up to more than $25 a barrel before settling at $120.92.
