Hurricane Florence, a Category 4 storm expected to hit between South Carolina and Virginia, will likely have a negative impact on gasoline prices this week on the East Coast.
Prices in South Carolina, North Carolina, and Virginia are expected to rise temporarily.
“A storm like this typically causes an increase in fuel purchases in the market and a slowdown in retail demand. Motorists can expect spikes in pump prices to be brief, but possibly dramatic,” Jeanette Casselano, AAA spokesperson, said. “AAA will continue to monitor the storm and will provide updates.”
The average gasoline price nationwide is $2.85 a gallon. On Saturday, filling stations will switch to winter-blend gasoline, and prices are expected to fall for the remainder of the month.
Last week, gasoline inventories grew by 1.8 million barrels, according to Energy Information Administration reports, 7 percent above the five-year average for early September. This, combined with refinery utilization rates reaching 96.6 percent, have kept prices flat.
The largest prices differences were in Michigan, South Dakota and Illinois, which saw prices drop by 10 cents or more, and Delaware where prices spiked 12 cents.
The West Coast, Mid-Atlantic, and Northeast are the nation’s most expensive regions with most states averaging $3 a gallon or more.