November 5th, 2012
09:10 PM ET

Who's to blame for long gas lines?

Millions in New York and New Jersey are still struggling in the aftermath of Sandy. Lines for gasoline can be miles long with wait times in excess of three hours.

In New Jersey, Governor Chris Christie signed an executive order to ration gas in 12 counties.

Long gas lines test patience of storm-struck residents

The New York attorney general has received hundreds of complaints about price gouging and is investigating. The question tonight, could the gas shortage been prevented?

Drew Griffin with the Special Investigation Unit has the story.

U.S. gas prices see sharpest dip since 2008

An ongoing skid in crude oil markets and the impact of Superstorm Sandy helped drive U.S. gasoline prices down nearly 21 cents a gallon in late October, the latest Lundberg Survey found.

The national average price of regular gas fell to $3.55 a gallon between October 19 and November 2, survey publisher Trilby Lundberg said.

"It's the biggest price decline in our surveys since early December 2008, when the recession hit in full force," Lundberg said.

The price at the pump remains about 12 cents higher than a year ago after a volatile year that's seen steep peaks and deep declines. Crude oil prices, which make up the largest element of the price of motor fuel, are on the downswing, and demand has fallen since the end of the summer vacation season, Lundberg said.


Filed under: "Superstorm" Sandy • Energy
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