TERRE HAUTE, Ind. (WTWO/WAWV) – Hurricane Ian continues to cause problems throughout the southeast portion of the country.
However, experts said that it could also have an economical impact right here in the Wabash Valley.
Indiana State University Professor of Economics Robert Guell said that you could see price increases in building materials. This is likely due to the fact that these will be in high demand in Florida, as they rebuild the damage left behind from Hurricane Ian.
The prices of certain foods and vegetables, particularly those primarily grown in Florida, could also see price increases.
However, Guell said that it is far less likely to see and increases in gas prices. He said that this is due to the Hurricane having no impact near any major oil refineries.
“It would not be a reasonable excuse or justification for gasoline prices rising because most of the oil wells are closer to the mouth of the Mississippi than they are to Tampa,” Guell explained.
He suggested that a major storm hitting Texas or Louisiana could potentially impact the price of gas.