AAA Warns Demand Could Drive Up Gas Prices

Demand for gas in the days before Hurricane Irene  the East Coast could drive up prices at the pump, according to AAA.

The Oil Price Information Service, which supplies fuel price data to AAA, reported that lines at gas stations have been forming along the eastern United States, creating an estimated increase in demand of 20 to 40 percent.

In Manchester on Friday, prices were as motorists formed lines two-to-three cars deep at local stations to fill up their vehicles as recommended by officials. 

“It’s been pretty bad all day,” said Quick Chek manager John Thompson about the Friday morning lines at his Manchester station.

The WAWA in Toms River on Route 37 West had substantial lines Friday afternoon, a scene which became increasingly common at stations around the Jersey Shore as the day went on.

A release by AAA states that panic-buying could drive up prices and lead to gas shortages, as could the shutdown of refineries on the East Coast run by Magellan Midstream Partners and Colonial Pipeline in Virginia, New Jersey, Pennsylvania and Delaware, which account for the production of nearly 1.4 million barrels of oil per day.

AAA states that the average price for a gallon of unleaded regular gas in Monmouth and Ocean Counties is $3.45 as of Friday, 4 cents lower than the state average and 14 cents under the national average.

It could take these refineries up to a week to return to full production capacity, according to AAA, which could mean higher prices in the coming week.

Shoppers are advised to be aware of price gouging, as thirty-one states, including New Jersey have laws against the practice, said Tracey E. Noble, AAA Mid-Atlantic spokesperson. In New Jersey, the price of gas cannot increase more than once in 24-hours.