Rockford Area Gas Prices Are Up, But Beginning to Stabilize After Hurricanes
In the aftermath of Hurricane Harvey's smackdown of the Houston area, we were warned that gas prices would certainly be on the rise because of the extensive damage and flooding to the gasoline refineries in that area. It was also suggested by some that higher prices and shortages could last for months. Only part of that came true.
The part that prognosticators got right was the rising prices part. According to AAA Chicago and GasBuddy, although gas prices in and around the Rockford region rose more that 25 cents in the days after Hurricane Harvey's wrath, it appears that the price rise is nearing the top.
The average cost of a gallon of unleaded fuel on the national level sits at around $2.65, while Rockford averaged $2.55 over last weekend.
GasBuddy says that post-Harvey prices have probably peaked, and given the distance between Hurricane Irma and the South's energy producing sector, we shouldn't have much, if anything, to worry about with Irma and energy costs. Because the refineries are returning to production much sooner than expected, coupled with the end of the so-called "Summer Driving Season," experts predict an overall lowering of gas prices nationwide.