Sunday, August 31, 2008

Hurricanes To Increase Gasoline Prices

Hurricane Gustav Will Lead To Higher Gasoline Prices

With Hurricane Gustav headed toward the gulf at least a few oil related facilities will be disrupted, and with even a hint of disruption will come speculation on the oil commodities market - which means higher gasoline prices at the pump.

Unfortunately gasoline prices are already high, and with the labor day weekend anyone wanting to top off their tanks in preparation of even higher prices won't get much of a break. However, there's no telling how high gasoline prices could go.

Average Price of Regular Gasoline 08/30/2008 Springfield, Illinois Was $3.80/Gallon

Depending upon the track of the hurricane, and the amount of damage to offshore facilities, and coastal refineries I'd say we should expect to see prices over $4.00 per gallon by the middle of next week - perhaps even higher.

We in the U.S. might get lucky, and the hurricane may be made to veer off toward Mexico, but from all indications the time needed to make major changes in hurricane Gustav's course is rapidly coming to a close.

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