AAA Texas says that despite Tropical Storm Marco and Hurricane Laura wreaking havoc in the Gulf of Mexico, fuel supplies should remain stable.
The auto services group said that according to the U.S. Department of Interior’s Bureau of Safety and Environmental Enforcement, approximately 58%, or 1.065 million barrels per day of crude production in the Gulf of Mexico has been shuttered ahead of the storms and more than 200 platforms have been evacuated, as of Monday. More of those rigs are expected to be shut down on Tuesday and an updated number is expected before landfall.
AAA says while gasoline stocks remain at a healthy level, if platforms and rigs are offline for an extended amount of time, supply could tighten and gas prices could be impacted.
Experts from the industry say that as long as refineries on land do not sustain heavy impact, there should not be much of a disruption in supply.
“Much of the oil comes from on shore and thankfully we have an abundance of that in places like Cushing, Oklahoma,” said Irvin Pratt, an oil and gas analyst based in Dallas. “This is a more traditional storm in most ways meaning that it will not be stalling over the coastal region where the refineries are located.”
Hurricane Laura is expected to make landfall somewhere along the Texas/Louisiana border on Thursday as a major hurricane.