Gustav to blame for rising gauze prices in Gulf Seaside states - Aug. 31, 2008

Meanwhile, the federal sample fee of petrol rose for a third interval straight. A gallon of general unleaded gas rose by approximately half a cent to $3.687 a gallon overnight, according to the motorist assortment AAA. The value accession was most dramatic in Louisiana, where prices rose a bit augmented than 2 cents a gallon.

Texas axiom prices rise nearly 2 cents. Mississippi's reward augmentation was lasting behind, rising 1.6 cents a gallon. Gas rose by 1.4 cents a gallon in the coastal cities of Biloxi, Gulfport and Pascagoula, said AAA. Alabama adage a diurnal aggrandizement of about 1.4 cents. Florida's prices rose by about half a penny, according to AAA. In Brand-new Orleans, gas prices rose by 1 cent a gallon.

All of these areas are dependent upon oil rigs in the Gulf of Mexico as a above chunk of their oil supply. By comparison, in states that are not directly dependent on Gulf oil analogous Current York, Alaska and California gas prices declined overnight. Prices are bounteous affected down South, while Latest York is supplied completed Inexperienced York Harbor," said Fred Rozell, oil analyst with the Oil Expenditure Dope Service.

Rozell said these increases are chiefly painful to Mississippi, not honest on account of the bill increases are the most dramatic there, on the contrary due to it's a territory where human beings tend to retain less discretionary income. I comprehend some of those areas are going to shop for hit dense again and it's actually going to squeeze people," said Rozell.

Inspire ready for hovering gas prices: The cost increases are imaginable to continue, said Rozell, partly in that of the storm, and partly thanks to of contemporary increases in wholesale gasoline prices, which tend to advance retail prices.

Rozell expects prices nationwide to escalation by 10 cents a gallon over the following five to seven days, or by 15 to 25 cents in the Gulf Coast states. Hurricane Gustav smashed into the Dominican State and Haiti on Thursday, killing aggrandized than 50 persons and causing extended flooding. The calamity headed west and whipped into Jamaica at noon on Friday. The storm crashed finished the Caymans and Cuba as it headed for the Gulf of Mexico.

It built into a sort 3 hurricane and straightaway threatens to smash into Modern Orleans and the surrounding region early consequent week.

Provided the storm continues along its projected course, it could threaten the 4,000 drilling platforms and 33,000 miles of pipeline in the Gulf Coast, which sends 1.3 million barrels a age to the Gulf Coast's 56 refineries. We are seeing gas payment increases here that are based on the opportunity that there may be some function dislocation," said Peter Beutel, oil analyst with the positive Cameron Hanover.

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