Gas Prices Surge as Isaac Slams Gulf Coast

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The Gulf Coast states are feeling the fury of Hurricane Isaac — even at the gas pump. Overnight, prices for a gallon of gas have gone up as much as 10 cents in some states, according to AAA's Daily Fuel Gauge Report.

Output from oil refineries along the Gulf Coast has been cut because of Isaac, but CNN Money is reporting that experts expect the damage from the hurricane to be minimal and that refineries will return to peak operating levels soon.

Alabama and Texas have seen some of the sharpest increases. In Alabama, the average price of a gallon of regular is $3.62 today, up from $3.58 on Tuesday. Today in Texas, a gallon of regular costs $3.64 on average, up from $3.58 the day before.

The climb has been more gradual in Louisiana and Florida. In Louisiana, the average price rose from $3.64 on Tuesday to $3.69 today. In the Sunshine state, a gallon of regular cost $3.74 Tuesday and costs $3.77 today.

It's not just the Gulf States that are feeling the pain at the pump today. In Hurricane-free Illinois, for example, prices jumped about 10 cents overnight, with the average cost of a gallon of regular inching back over $4 today: Tuesday's average price of $3.98 for a gallon of regular jumped to $4.08 this morning.

Related
Isaac Leads to 5-cent Gas Price Spike (CNN Money)
Gas Prices Spiking
More Auto Industry News on Cars.com

Comments 

Colten

In Ky it has went up a lot!In my town it was $3.64 to $3.79 in some of the larger areas around the $3.95 marker.

P6

I find it unacceptable that our President (whom I voted for) would say he may use our strategic oil reserves to bring down the price of gasoline. Our strategic oil reserves shouldn't be used for political gain!

Dan

@P6:

You are right. Our president should never do anything that is beneficial for the country if it makes him look good while doing so.

The problem here is refinery capacity. Many of the refineries are in hurricane prone areas. That will drive up the price for everyone, and releasing oil from the reserve will do nothing if there is no place open to refine it.

M

This is just a convenient excuse to raise prices. The amount of rigs in the golf is a small ratio of total rigs affected. As usual, the consumer gets ripped off. Thanks again big oil and Washington for screwing everyone yet again.

J

We just saw 30 cents jump in 1 day. Perfect excuses to screw us before the labor day weekend.

P6

Only a fool would believe our President would tap our strategic reserves for 'the benefit of our country'. It's all about votes.

George

Just a few points on how to stop the increase in oil price. (and maybe just bring it down)
Stop giving weapons to the Al Qaeda who are invading Syria. That is right, Al Qaeda works for the US, just as they did in Libya.

Stop harassing Iran just because they have a nuclear energy program.

Stop sending most of the oil that is produced from the North Slope of Alaska to Japan/China/Korea

Have the big banks of Wallstreet return that $30 Trillion that was 'given' to them.

End speculation in the oil futures "market" [currently it is a casino], make people take delivery.

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