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By CER News Desk on Aug 31, 2012 with 3 responses

Isaac Pushes Gas Prices to Record High for Labor Day Weekend

AAA still expects more drivers on the road than last year

Hurricane Isaac may have been downgraded to a tropical depression as of Friday morning, but that hasn’t stopped the storm from pushing gas prices higher around the country coming into the holiday weekend.

Much weaker than Hurricane Katrina, the storm that hit the same region seven years ago to disastrous results, Isaac still brought more rain waters to some areas of Louisiana than its predecessor, forcing many refineries to stop operations temporarily. While these closures will necessarily drive gas prices up over the short-term, the lack of lasting damage should allow refineries to begin producing at regular rates once deeper damage assessments are completed in the coming days.

“It’s a little early to say for certain, but it appears they were relatively unharmed,” said Michael Green, AAA public relations manager, of the region’s refineries. “That’s good news for the oil refiners.”

Isaac will continue to weave its way through the southern U.S. over the next 48 hours, packing much less punch in terms of wind, but bringing with it record rainfalls for areas that have experienced an otherwise dry summer. The states of Arkansas, Missouri and Illinois will be the next to feel the effects of the storm as it slowly tracks northeastward. With the Atlantic hurricane season only just beginning, observers are keeping a close eye on any potential increase in fuel costs between now and the storm season’s official end on October 31.

The national average price of gas is currently at $3.83 per gallon following a two cent increase on Wednesday; future storm effects aside, AAA has reported that it expects gas prices to begin falling steadily by mid-September, though no one is yet willing to estimate just how much of a fall that could be.

  1. By Robert on August 31, 2012 at 10:22 am

    How is it that gas prices rise in California as hurricane Isaac passes through the gulf? Where I live in Southern California are 6 major refineries and gasoline storage facilities that brimming with freshly refined gasoline. This roller coaster ride of gas prices is orchestrated by the oil companies reap even higher profits from an already faltering economy. More and more people on the edge are deciding whether to drive to work or buy food for their kids. It is high time everyone truly realizes who really controls this country. There are no shortages, only hedge funds and futures managers that are artificially inflating the price of gasoline and making themselves richer while we struggle to afford the current gas prices to get to work.

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  2. By Russ Finley on September 1, 2012 at 12:09 am

    Meh …one of the upsides of owning an electric car.

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  3. By shecky vegas on September 4, 2012 at 2:33 pm

    Hey! I just sneezed. I guess gas prices have to go up again.

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