Hurricane Sandy making impact on gas prices

As Hurricane Sandy continues to barrel down on the Eastern Seaboard, oil refineries in the storm’s path have been closed due to safety concerns.

According to Gregg Laskoski, senior petroleum analyst with gasbuddy.com, about two-thirds of the East Coast refineries have already been closed.

“The process of shutting down these refineries is not like closing a small mom-and-pop store. It’s not like you just turn off the lights and shut the door. It takes some time to close these refineries down, and it also takes a considerable amount of time to get them ramped back up,” he said.

While the northeast could see price increases between 5 and 15 cents, Laskoski said prices in Colorado are not expected to be impacted by Hurricane Sandy. He said this is because Colorado does not rely on these refineries for its supply of gas.

Colorado has seen a recent decrease in gas prices, which Laskoski said is due to the incorporation of a cheaper mix of gasoline used during the wintertime.

“Once we get past Oct. 1, that’s when refineries can put into the market what’s called a ‘winter blend gasoline.’ That gasoline is cheaper to produce because it has fewer additives,” said Laskoski.