Hurricane Milton leaves thousands of Florida gas stations without fuel

Published On Oct 10, 2024, 2:33 PM

Hurricane Milton has caused a significant fuel shortage across Florida, with nearly 2,000 gas stations, representing about 25% of the total in the state, currently out of gasoline. The hardest-hit areas include Tampa and St. Petersburg, where about 63% of stations are dry. Experts predict that the situation may worsen temporarily as consumer demand spikes due to the storm, but supply should normalize by next week as more fuel tankers are scheduled to arrive.

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Stock Forecasts

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The anticipation of improved fuel supply next week may stabilize gas prices, especially as emergency supply chains are established. However, the immediate demand due to the hurricane and potential panic buying could keep prices elevated temporarily.

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With the supply chain disruptions and heightened demand for fuel, oil companies could see immediate benefits in stock prices as they capitalize on this temporary rise in gasoline prices.

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