Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 8:55:38 PM CST

Learn about Newser Points »

« Back to the grid | Next story »

Ike Boosts Gas Prices Up to $5

Posted Sep 14, 08 6:19 AM CDT in Business,  Science & Health,  US 

(Newser) – Gas prices have shot up an average of 5 cents nationwide in the wake of Hurricane Ike, which has shut down almost 100% of oil and natural gas production in the Gulf Coast region. Gas prices in the Gulf area have risen as high as $5 per gallon, and an expert warns that many Americans may see the return of $4 gas, reports the Washington Post.

Power outages have plagued many Gulf refineries, making it difficult for officials to predict when normal production levels will resume. President Bush has warned against price gouging and the EPA has temporarily relaxed some import restrictions to allow an infusion of foreign fuel into the hardest-hit states. The Gulf Coast provides about 40% of domestic oil supplies.

Source Washington Post

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Long Lines Await Ike Survivors

    Sep 15, 08 2:15 PM CDT
    Long Lines Await Ike Survivors With a short supply of commodities like ice and gasoline forcing Texans trying to recover from Hurricane Ike to wait in hours-long lines, President Bush warned today the storm may put "upward pressure" on US fuel prices. Refineries and oil rigs sustained extensive, though not severe, damage, the Houston Chronicle reports. Meanwhile, some businesses reopened and FEMA officials say they are “working feverishly” to open 17 food distribution centers today. More »

  • Ike Hits Fuel Production, May Cause Shortages

    Sep 13, 08 8:45 AM CDT
    Ike Hits Fuel Production, May Cause Shortages Hurricane Ike’s assault on the Gulf Coast has closed over 19% of US refinery capacity and may hurt delivery nationwide, Bloomberg reports. At least 13 Texas refineries have shut down operations, which may trigger a gasoline shortage in the southern and eastern US—and it may last a while, observers say. “Ike is headed into the heart of the refining industry,” says an energy expert.
    More »

  • Oil Prices Jump $1 as Gustav Shuts Down Gulf Operations

    Sep 1, 08 4:35 AM CDT
    Oil Prices Jump $1 as Gustav Shuts Down Gulf Operations Hurricane Gustav helped boost oil prices today by more than $1 a barrel as energy companies shut down production facilities in the storm's path, reports Reuters. US crude rose $1.54 to $117 per barrel this morning, after briefly surging to over $118 when NYMEX opened for electronic trading hours earlier than usual.
    More »

Workers in the state emergency operations center in Austin look at weather imagery as they anticipate landfall of Hurricane Ike on the Texas Gulf coast.   (AP Photo/Harry Cabluck)
Little Rock, Ark., gas station employees change the price sign for fuel Friday, Sept. 12. The threat of Hurricane Ike pushed gas prices higher as the storm neared oil refineries near the Gulf Coast.   (AP Photo/Danny Johnston)
A Houston gas station has bad news for patrons trying to get out of the path of Hurricane Ike Thursday, Sept. 11, 2008.   (AP Photo/Pat Sullivan)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 3)

Tags

Texas • gas prices • Hurricane Ike • oil production • oil refineries • Gulf Coast


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other US Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »