Gasoline prices stable as Hurricane Matthew churns toward Jamaica, Haiti

Gasoline prices are relatively flat this week, but that could change.

Gasoline prices are relatively flat this week, but that could change.

Palm Beach County’s average gasoline price for regular is up a penny from a week ago, to $2.28  a gallon, while the state average remained flat at $2.14 a gallon, according to AAA’s Fuel Gauge Report.

That stability  could change if the market reacts to the threat of Hurricane Matthew.

Drivers may continue to see pump prices wobble higher or lower in the next few weeks as the market reacts to a possible hit by Hurricane Matthew along the East Coast,  the OPEC production agreement and continued refinery maintenance, AAA said.

GasBuddy  senior petroleum analyst Patrick DeHaan said gasoline prices quickly reacted to news last week that OPEC had come to a decision on cutting back oil production.

“Oil prices surged on the news which fueled gas prices to jump as well, but several days after the news broke, there’s reason to doubt OPEC’s sincerity of a possible production cut,” DeHaan said

“In addition, Hurricane Matthew is a major storm worth monitoring as it heads for the East Coast- perhaps to areas affected by the Colonial Pipeline outage last month. Should fuel availability and power outages arise from Matthew, GasBuddy stands ready to activate our Gasoline Availability Tracker,” DeHaan said.

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