Among other major problems caused by hurricane Sandy, areas hit by the storm are now facing a great shortage of gas. The problem is not the scarcity of gas per say, but the damage caused by the storm to the pipelines at various gas stations has resulted in the problem.
According to a report by the Associated Press, "millions of gallons of gasoline are sitting at the ready in storage tanks, pipelines and tankers that can't unload their cargoes."
On Friday people continue to line up at gas stations all over New Jersey and New York only to be turned down. According to CNN Money, only 40 percent of New Jersey's 2,944, tracked by the AAA are functional; 35% of Long Island's AAA tracked stations are operational while 40 percent of stations in New York City are up and working. Note these numbers only apply to those stations that are tracked by the AAA.
Prices of gas have dropped across the nation. The price started declining by 1.1 cents and has currently reached an average of $3.50 (or less) per gallon of regular.
But due to supply-demand problem in storm-affected areas, prices instead rose to 1.1 cent and counting. CNN reports New Jersey gas prices have rose to $3.56 per gallon while New York's rose slightly below a one-cent mark of $3.94.
Many areas in New York and New Jersey are still out of power, and reports suggest that power to all might not be restored until November 11. Meanwhile, the AP reports that over 4.8 million homes are still without electricity.
