Tropical Storm Francine is approaching the U.S., causing concern among drivers about how it will impact gas prices. With nearly half of America’s petroleum refining capacity located along the Gulf Coast, storms like Francine can have a significant impact on gas supply. However, experts believe that Francine’s low intensity will likely result in minimal effects on gas prices and supply. Gas prices are currently at their lowest level since 2021, so any impact would need to deviate significantly from expectations.
In contrast to Hurricane Harvey, which caused refineries to shut down for more than a week in 2017, Francine is not expected to have a similar impact. De Haan notes that since Francine is projected to be a Category 1 or 2 hurricane, the lower rainfall totals and flood risk to refineries should mitigate potential damage. While there is still a possibility of some flooding and wind damage, it is expected to be limited compared to previous storms.
Despite the approaching storm, De Haan advises drivers against preemptively filling up their gas tanks. Gas prices have been decreasing for the past six weeks and are expected to continue falling. Hoarding gas before the storm hits could result in unnecessary expenses for drivers. De Haan emphasizes that the storm’s impact on gasoline supply is projected to be minimal, further reducing the need for panic buying.
The primary concern for refineries during storms like Francine is flooding and wind damage. While no storm can completely eliminate these risks, De Haan believes that Francine’s intensity may limit the extent of potential damage. Flooding and wind damage to refineries could impact gas supply and prices, but the lower intensity of Francine may result in a more manageable situation for the industry.
With the Gulf Coast being in Francine’s path, there is some uncertainty about the storm’s impact on gas prices. De Haan reassures drivers that the storm’s low level of intensity is unlikely to lead to significant disruptions in the supply chain. While any storm in this region raises concerns about gas prices, Francine’s projected impact is expected to be minimal compared to past events like Hurricane Harvey.
Overall, as Tropical Storm Francine approaches the U.S., concerns about gas prices and supply have been raised due to the storm’s proximity to the Gulf Coast. However, experts like De Haan believe that the storm’s minimal intensity will likely result in limited effects on gas prices and supply. With gas prices currently at a low point, there is no need for drivers to rush out and fill up their tanks ahead of the storm. Flooding and wind damage remain the primary concerns for refineries, but Francine’s expected intensity may help mitigate these risks, providing some reassurance to the industry and consumers.
