As Hurricane Milton approaches, Florida gas stations are experiencing fuel shortages due to the mass evacuation.

As Hurricane Milton approaches, Florida gas stations are experiencing fuel shortages due to the mass evacuation.
As Hurricane Milton approaches, Florida gas stations are experiencing fuel shortages due to the mass evacuation.
  • According to GasBuddy, over 1,000 gas stations in Florida have run out of fuel as people evacuate due to Hurricane Milton.
  • The state has been amassing fuel in preparation for the hurricane, as stated by Florida Gov. Ron DeSantis.
  • According to analysts, Milton will not affect oil and gas production.
Florida gas stations are rapidly running out of fuel, says GasBuddy's Patrick De Haan

As of late morning Tuesday, approximately 16% of gas stations in Florida had run out of fuel due to people leaving the area to avoid Hurricane Milton's path, according to GasBuddy data.

According to GasBuddy's Patrick De Haan, head of petroleum analysis, many gas stations in Florida are unable to meet gasoline demand as millions of residents evacuate. Approximately 1,200 of the state's 7,900 gas stations are currently out of fuel, according to data.

According to De Haan, the large amount of people moving out of harm's way is not likely to cause an increase in prices because infrastructure and refineries are not expected to be affected by the storm.

According to the National Hurricane Center, Milton is predicted to hit the west-central coast of Florida on Wednesday night and then move east-northeastward across the central part of the state on Thursday.

The forecasters predict that Milton, currently a Category 4 storm with winds of 150 miles per hour, will remain an extremely dangerous hurricane through landfall in Florida.

Florida Gov. Ron DeSantis announced Tuesday morning that the state was preparing for the storm by stockpiling fuel. Despite reports of long lines and empty gas stations, DeSantis stated that there was no fuel shortage in the state.

The governor stated that fuel continues to arrive in Florida via port and trucks are dispatching supplies to stations in the anticipated impact area. However, the Port of Tampa and other Gulf Coast ports are not receiving ships, but the facilities have fuel on hand, and dockside operations will continue.

Although there are no oil refineries in Florida and only 2,000 barrels of oil are produced daily in the state, according to Andy Lipow, president of Lipow Oil Associates, several terminals along Tampa's waterfront could still be affected by Hurricane Milton.

"According to Lipow, there is a risk of storm surge, flooding, and power outages, which could lead to significant damage to facilities and affect the ability to distribute gasoline and diesel in the area."

Gasoline delivery by tanker is unlikely to occur in Tampa until Sunday at the earliest, according to Lipow. However, terminals with power may begin fuel distribution on Saturday and Sunday, depending on worker and truck driver availability and the status of local gas stations.

by Spencer Kimball

Markets