Why Hurricane Nate won’t affect gas prices

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“Nate, a fast-moving storm, did little to disrupt the flow of fuel to market while having a larger impact on oil rigs,” one analyst says.

Gulf of Mexico oil and gas production is coming back online after Hurricane Nate, but the disruption is unlikely to cause a spike in pump prices, analysts say.

“Gas prices have today entered their fourth straight week of declining nationally, a trend unlikely to be interrupted by Hurricane Nate over this past weekend,” Patrick DeHaan, senior petroleum analyst for GasBuddy, said in a news release today. “Nate, a fast-moving storm, did little to disrupt the flow of fuel to market while having a larger impact on oil rigs. However, the nation continues to be awash in crude oil, so the storm mattered little to oil prices”…

 

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