Where Gasoline Prices Are Heading Next: Schork

Consumers could see lower gasoline prices in the wake of Hurricane Sandy's destruction along the East Coast, The Schork Report editor Stephen Schork said Tuesday on CNBC.

On "Fast Money," he said that despite a threat the super storm could have eliminated 600,000 barrels a day of gasoline production capacity, gasoline prices aren't yet reflecting the worst-case scenario.

(Read More: Will Hurricane Sandy Cause Gas Shortage?: Pros)

Schork called it an "extremely bearish tale tell, and for the consumer listening, it's going to translate into better pricing in the weeks ahead as we approach the holidays."

Schork shared an anecdote about having connectivity even as the hurricane passed over his suburban Philadelphia office, which he took as a good sign that "a complex as sophisticated as a refinery should have little problem ramping up production."

There won't likely be prolonged shortages, if they do occur, he said.

(Read More: Gartman: Crude Oil Could Be Heading to This Level)

"The East Coast is in a good position because we have the refineries, but we are also connected via pipeline to refineries in the Gulf Coast," Schork said, adding that European refiners were also an option for processing crude oil.

Gasoline prices will bottom between now and Thanksgiving, moving back up along with increased seasonal demand in the next four to five weeks.

Trader disclosure: On Oct. 30, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Jon Najarian is long ALL Puts; Jon Najarian is long DAL Puts; Mike Murphy is long HTZ;

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