Gasoline Prices May Take Another Hit

(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author)

In this week’s preview of what to watch in oil and gas markets, Rigzone’s regular energy prognosticators take a look at weather systems in the Atlantic, gasoline prices, natural gas trends and more. Read on below to find out the specifics.

Rigzone: What developments/trends will you be on the lookout for this week?

Hillary Stevenson, Director, Industry Relations at oil and gas data firm Validere: Gasoline prices may take another hit with Hurricane Ian making landfall on September 28. Increased demand and supply issues may temporarily elevate regional gasoline prices. Typically gasoline demand increases ahead of a storm, especially when evacuations are ordered, then fall during the storm due to decreased mobility. Ian made landfall in Florida with limited impacts to Gulf of Mexico oil and gas production. Most of Florida’s fuel supply is provided by barges, making resupply difficult amid port closures and damage. 

Tom Seng, Director – School of Energy Economics, Policy and Commerce, University of Tulsa’s Collins College of Business: The market will have to return to the days of fixating on the weather channel’s ‘Tropical Update’ for possible future developments in the Atlantic Basin. With the start of October, will cold air enter the U.S. and spark demand for natural gas and heating oil?

Barani Krishnan, Senior Commodities Analyst at uk.Investing.com: Some serious market volatility.

To contact the author, email andreas.exarheas@rigzone.com