Sandy's Impact on West Texas 10/29/12
CBS 7 Reporter
October 29, 2012
Odessa, TX - The storm is thousands of miles away but Tropical Storm Sandy will have a direct impact on West Texas.
Many viewers on our CBS 7 Facebook page have mentioned family and friends in the Northeast or even a cancelled flight. But all of us will feel the effects the next time we go to fill up for gas.
The cost of gas has been steadily declining. According to www.gasbuddy.com, in Midland/Odessa the average price of gasoline is $3.45. In Texas the cost is $3.30 and the national average is $3.56.
But Tropical Storm Sandy could force a detour on the road to cheaper gas.
"It will affect gas prices, anything affects gas prices," says driver Lewis Marcus
"There’s people playing it both ways," claims President of Las Colinas Energy Partners Kirk Edwards.
Edwards says with fewer Northeast drivers on the road, some analysts actually predict gas prices will stay down.
"Our price is lower this week, it should cause the gasoline prices to come down a little bit here,” he claims. “It's not affecting any production whatsoever, it's affecting the usage of that production."
But that could change if any of the 6 refineries in the storm's path suffer damages.
"If the hurricane hits them and knocks them out they're about 7% of the U.S. production, it would cause all of the prices to shock up again," Edwards says.
Even so, drivers say, at this point, gas prices are the least of their worries.
"I just hope everybody fairs through it fairly well, no loss of life."
Markets were closed today and will be again tomorrow. The last time the New York Stock Exchange was closed for weather was in 1985, and it will be the first time since 1888 that the exchange will have been closed for two straight days because of weather.