Back to life, back to reality - how much gas costs now that it's readily available:
Bottom Line: First it was hurricane Harvey. Then Irma. In the wake of Harvey we were concerned about the impact on our gas prices. During and after Irma we simply wanted gas at almost any price. As we get back on our feet there's decent news for what awaits you at the pump. The absolute peak impact of the storms to wholesale gas actually happened nearly three weeks ago and is completely reflected in the price at the pump. The absolute peak impact to wholesale gas prices was:
- +28 cents per gallon (on August 30th)
The increase due to Harvey took wholesale gas (the price your local gas station pays for fuel) from about $1.50 per gallon to about $1.78 per gallon. So where are we today? The wholesale price for gas is $1.66 and stable. That translates to an average retail price in SFL, of about $2.70 per gallon. The better news is that the bias is for lower prices going forward as well as prices continue to normalize in the wake of Harvey and adjust for the disruption in demand from Irma. The only caveat is that 100% of the fuel in SFL comes through Port Everglades and as well know much of that capacity is still ramping up (though at last check we were back to around 90% for petroleum products in the port).