Gas prices remain stable after Hurricane Michael

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Gas prices dropped by three cents a gallon over the weekend after Hurricane Michael devastated areas of the Gulf Coast, but missed offshore rigs in the region. 

The rare drop cam as oil supplies increased.

The storm has not affected critical Gulf Coast refineries or pipelines that bring gasoline to the Northeast. However, heavy rain, wind, flooding and power outages may cause delivery disruptions to gas stations in Florida, Mississippi, and Alabama.

Oil prices  Fri. Sat. Sun. (from left)    
Pennsylvania
$3.06
$3.07
$3.08
New Jersey
$2.89
$2.90
$2.90
Delaware
$2.67
$2.69
$2.70
Maryland
$2.82
$2.83
$2.84
Philadelphia (5-county)
$3.05
$3.05
$3.05
South Jersey
$2.82
$2.83
$2.83
Bloomsburg
$3.11
$3.11
$3.11
Wilkes-Barre
$3.08
$3.08
$3.08
National
$2.90
$2.90
$2.91

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $71.34 per barrel, down $3 from last Friday.

Oil prices took a dip late in the week following reports that crude inventories had risen for the third straight week, up by six million barrels.

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A report from the Organization of the Petroleum Exporting Countries (OPEC) released Thursday revealed a rise in OPEC and Russian crude-oil production last month, making up for a continuing decline in Iranian output ahead of the implementation of U.S. sanctions 

“As the southeastern U.S. recovers from the devastating effects of Hurricane Michael, gas prices across most of the country are expected to remain stable,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “However, prices may increase along the storm’s path as a result of flooding and power outages.”

A new concern now centers around Saudi Arabia following a disappearance of a critic of the government. The Saudi’s vowed to strike back as the nation’s stock lost ground.

To check out prices in your neighborhood, click on the AAA’s Fuel Price Finder. (http://www.AAA.com/fuelfinder).

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