Superstorm aftermath could actually lower gas prices

Updated:

NEW JERSEY - The biggest refineries in the northeast are shut down or throttled back sharply after superstorm Sandy rolled through, but oil prices are falling.

Experts said the massive storm will reduce demand by keeping drivers off the road and shutting down businesses.

Owners of the six biggest refineries in the northeast shut down two and cut production at most others.

That includes a full shutdown of the Phillips 66 refinery in New Jersey.