Labor Day And Hurricane Isaac Will Mean Double Whammy At The Pump
- Cameron Spencer, Getty Images
Oil companies might have two excuses for raising prices at the pumps soon. Fill up now, if you can, or get ready to pay more for your next tank of gas. Hit read more to find out why, and how high they might go.
Isaac, which is a tropical storm at this point, could impact oil production in up to a dozen Gulf Coast refineries, and might even prompt some closures, depending on the severity and tracking of the storm. The Gulf Coast is responsible for roughly 22% of the nation's gas supplies, and some of the largest refining centers are located there. "We're definitely going to see a bump." warns Brian Milne of energy tracker Telvent DTN. Conservative estimates have us up 26 cents a gallon from last month's prices nation wide, and experts warn that we could easily see $4.10 by Labor Day. Safe travels!
Are you traveling for the Labor Day weekend, or will gas prices keep your car in the driveway?