Hurricane Isaac Intensifies, Gas Prices Rise

As Hurricane Isaac intensifies and threatens the Gulf Coast with significant storm surge and hurricane force winds, oil companies with refineries in Louisiana have started to evacuate employees and shut-down operations.

The result will likely mean higher gasoline prices for area drivers.

AAA is reporting that it is likely drivers across the country will experience higher gas prices as a result of the tropical storm heading toward the Gulf Coast.

Roughly 1.3 billion barrels a day — or 8 percent — of the country’s refining capacity was taken offline in preparation of Isaac making landfall in Louisiana, according to a story on the Wall Street Journal Monday.

Prices could rise another 10 cents in the coming week, according to a story on CNN Money. 

The nationwide average price of gasoline on Monday was $3.72 a gallon, according to AAA. Closer to home, the agency said the average gallon of gas in Illinois was $3.988. 

The cheapest unleaded gas around Grayslake is $3.94 per gallon at both the Marathon at 735 E. Belvidere Road and the Speedway at 491 S. Route 83. The 7-Eleven at 92 Belvidere Road is at $3.96 per gallon.

AAA is projecting that 33 millions Americans will travel at least 50 miles over the Labor Day weekend, a 2.9 percent increase from Labor Day Weekend 2011. Here in Illinois, 1.8 million people are expected to travel, a 2.6 increase over last year.

Will the higher gas prices impact your holiday travel plans? Tell us in the comment section!