Total gasoline stocks around the country grew by 1.3 million bbl last week, according to the Energy Information Administration. At 235.9 million bbl, stocks are 17.6 million bbl higher than were they were this time last year. Moreover, stocks in in the East Coast (PADD 1) grew slightly last week to 66.8 million bbl, which is 12 million bbl higher than were they were last year at this time. The additional barrels of gasoline may provide a slight price and supply buffer as Hurricane Florence hits the region. However, even if there is adequate supply in light of demand – which will drop after the storm – power outages, flooding and intense rainfall may still hamper gasoline deliveries and dispensing at local gas stations impacted by the storm. AAA National will continue to monitor the evolving weather event and provide gasoline-related updates as needed.
Domestic Gasoline Stocks Grow Ahead of Hurricane Florence Making Landfall