While Sandy may be moving out of the region, the lost power, flooding, and other issues have not. As transportation comes back online and as employers open their doors, motorists will be looking for gasoline and other fuels.
We called Love's Travel Centers today for an update on their operations. Love's operates 290 stations throughout 39 states nationwide, with travel centers in various states throughout the Northeast. Love's currently was experiencing limited outages at four stations in this corridor, and was working on bringing in generators to the locations that had lost power.
We were informed that supply is flowing adequately, and that Love's had proactively topped off all their underground tanks before the storm hit- certainly a wise move, and that "we're sitting good at this point" on fuel.
Love's indicated that four locations that were down, two in PA, one in NJ, and one in OH. Generators were headed to those locations, and that Bordertown, PA was close to restoring power.
Love's had also indicated that they haven't noticed any significant jumps in the price that they were paying for fuels, so that certainly is a good sign for motorists at this point.
Pilot Flying J also had an update as of 1pm EDT, indicating that several stations were brought back online and did have power: New Milford, PA, Stonington, CT, Sturbridge, MA, North East, MD, and Frystown, PA, where pumps were due online shortly.
Pilot Flying J had several locations closed and were working with power operators and were looking for generators for the following closed locations: Milford, CT, Perryville, MD, Grantsville, MD, Bloomsbury, NJ, Montague, NJ, Mahwah, NJ, Clinton, NJ, and Scranton, PA.
Pilot Flying J also indicated that several terminals where they obtain fuel from were closed and that they were working to keep all tanks fuel and are prepared to long haul product from other open terminals further away if necessary.
There is still little to talk of in the way of price increases, as GasBuddy data shows prices relatively stable in the Northeast. We continue to monitor spot and wholesale prices, and there haven't been any significant jumps in price, in fact, gasoline spot prices have traded lower today in electronic trading, and some refineries are looking to resume full production over the next few days.
We'll continue to update as new information is available.