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Nearly full natural gas reserves, onshore drilling minimize Isaac's effect on price

Increased onshore natural gas production minimized the effect of Hurricane Isaac on the country's natural gas prices.
by Adam Wilmoth Published: August 31, 2012
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While North American natural gas prices slipped slightly this week, the country's gasoline markets did not receive the same storm protection.

The national average price of gasoline has jumped 11 cents over the past week while the statewide average is up 10 cents to $3.62 a gallon according to AAA's fuelgaugereport.com.

At least part of the reason is because gasoline prices are much more time-sensitive, with no large, easily accessed storage facilities comparable to natural gas.

Isaac shut in a half dozen refineries, adding to existing strain caused by recent refinery outages in Indiana and California.

Isaac made landfall two days ago, but the storm continues to cause trouble throughout the refinery-rich region. Gasoline and diesel likely will not be back to full production for several days, and the pump price is expected to climb a bit further over the next several days.

But the good news for consumers is that the summer driving season is over and the refineries will switch to the less expensive winter blend fuels over the next few weeks.

by Adam Wilmoth
Energy Editor
Adam Wilmoth returned to The Oklahoman as energy editor in 2012 after working for four years in public relations. He previously spent seven years as a business reporter at The Oklahoman, including five years covering the state's energy sector....
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