Sandy helps gasoline prices to fall - 13 WTHR Indianapolis

Sandy helps gasoline prices to fall

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NEW YORK -

Gasoline prices have slipped since Hurricane Sandy left a wide swath of flooding, power outages and disrupted transportation in the eastern U.S.

The national average for a gallon of regular fell by about a penny, to $3.53 Tuesday. That's more than 11 cents lower than a week ago.

With many roads impassable, drivers won't be driving as much, reducing demand for gasoline.

Gasoline prices have been dropping since early October. Analyst Tom Kloza says that should continue over the next month November due to the storm. Less driving in the coming days coupled with November's traditionally lower demand should bring prices down later in the month.

Only two of the Northeast's nine refineries were knocked out of commission by Sandy, and they apparently are down because of power outages. But Kloza says it could take a while for supply to reach consumers in the region because of transportation problems.

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