SAN ANTONIO – Even though Hurricane Milton made landfall more than 1,000 miles away, the economic impact could be felt here, too. Gas demand is at an all-time high, hitting record numbers this year. Experts point to Hurricane Milton as a factor in the increase.
The impact was also felt in Texas, where average prices were up 2 cents from this day last week.
“We’ve seen a significant increase in demand over the last week. Perhaps Florida residents and Southeast residents purchased gasoline before the storm and, of course, some tried to purchase gasoline after the storm made landfall. “That’s probably because of this,” Daniel said. AAA arm blaster.
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Armbruster says the good news for drivers is that this situation won’t last long, as prices will fall within weeks after the recent spike.
“Demand is going to go up, supply is going to go down, prices are going to go up. That’s what we’re seeing. And of course, not just Floridians, but Texas and other parts of the country. It is also affecting people,” he added.
Darryl Lyons, CEO of Pax Financial Group, says premiums could rise next year.
“Insurance companies ultimately have to go to reinsurance companies, so the big reinsurance companies are responsible for raising rates, and we’re going to see rate hikes over the next few years, unfortunately. That’s going to hurt us,” Lyons said.
As for the housing market, Lyons doesn’t see any problems, but advises people to keep looking for ways to save money.
“Please continue with this inflation-related budget. We are hearing that it is gone, but it is down to 2%. There is a delaying effect and the hurricanes will also affect that. So the budget is limited. If you are, don’t get too comfortable and carry on,” he added.
Unfortunately, Hurricane Milton hit the citrus growing region of Florida. Texas Agriculture Commissioner Sid Miller says it won’t affect us, but it could affect us in other ways.
“What will probably affect us both in the short and long term is that the horticulture industry has been hit pretty hard, so come Christmas time there could be a shortage of poinsettias,” he said. Said.
During this time, it is also important to be wary of scammers and check whether the organization you are sending money to is supporting hurricane recovery efforts.
