Hurricane Ian’s impact on food, gas prices

Experts said Hurricane Ian will not cause widespread hikes in food and gas prices, with one exception depending on the extent of the damage.
1:38 | 09/29/22

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Transcript for Hurricane Ian’s impact on food, gas prices
NARRATOR: Hurricane Ian made landfall in Florida. And some Americans are concerned about price increases for gasoline and food. According to the analysts, Hurricane Ian will not affect gasoline prices, as Florida doesn't host any oil refineries. The state accounts for about 6,000 barrels of oil each day, which makes up a tiny fraction of overall US oil production. The hurricane did cause a disruption of major oil platforms in the Gulf of Mexico earlier this week. But it was temporary. Similarly, the hurricane won't cause hikes in food prices since Florida isn't a major producer of food. However, depending on the extent of the damage, two items could experience price hikes-- fertilizer and citrus fruit. A company in the Tampa Bay area produces 50% of North American phosphate, a key ingredient of fertilizer. Damage to phosphate-related facilities could disrupt the market for fertilizer. Citrus fruits, such as oranges and grapefruits, could experience price hikes, as Florida accounts for 70% of such foods. Experts said the recovery of the citrus supply could take several years if damage is significant. - Do not-- let me repeat-- do not-- do not use this as an excuse to raise gasoline prices or gouge the American people.

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