Among the other problems we're facing here in New Jersey, gasoline has been very difficult to find. Even some stations that are open and have gas also have waits of an hour or more for consumers to fill their tanks. Governor Christie has announced that stations will be allowed to buy gas from out of state, which is normally not allowed. That should ease things a bit.
But in the longer term, the storm might end up having a positive impact on fuel prices. Crude oil prices dipped yesterday, in large part over concerns that the damage from Sandy will limit driving and other transportation here in the Northeast. With less demand for fuel, gasoline prices could drop as well.
Of course, Hurricane Sandy isn't the only thing going on in the world. Chinese demand for oil has fallen as well, and world oil supplies are ample right now. Add it all up, and we might see some much-needed relief at the pump.
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