Hurricane Set to Slash Fuel Demand in Northeast US
By John Kemp
As the Northeast United States locks down in the path of Hurricane Sandy, the freakishly large tropical storm careening in from the Atlantic, the main impact is likely to be on fuel demand rather than supply.
Regional product prices initially rose on Monday, but the storm is more likely to have a bearish impact later this week.
The region is a major net consumer of refined products such as gasoline, diesel and aviation fuel and covers more than 30 percent of its demand by imports and even more by pipeline deliveries from refineries on the U.S. Gulf Coast.
By posting your comment, you agree to abide by our Posting rules