Hurricane Isaac Intensifies, Gas Prices Rise
Gas prices could go up 10 cents in the next week because refineries were taken offline as Isaac threatens the Gulf Coast.
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 …
