Isaac, Labor Day Weekend Could Affect Gas Prices
Some oil refineries are shutting down in the Gulf Coast as the tropical storm approaches.
Already, gas prices in Tucker are rising, in some cases above the national average. And two factors - Tropical Storm Isaac and Labor Day weekend - could push them higher.
As the storm bears down Tuesday (Aug. 28) on the U.S. Gulf Coast, where much of the nation's gasoline is produced, many oil companies are considering shutting down their refineries in that area.
According to cbsnews.com, refineries with the combined capacity to refine 1 million barrels of oil per day are in the process of shutting down. The U.S. consumes about 19 million barrels of oil products per day.
If refineries lose power suddenly, it can take several days to restart them, CBS reported. If refiners conduct what is called an orderly shutdown, operations can be restarted more easily.
Also, the Labor Day weekend, regarded as the traditional end of the summer season, usually brings heavier driving throughout the U.S. That factor also could push up gas prices.
On Tuesday (Aug. 28), the lowest reported price for Tucker was $3.74.
- Are you going on a road trip this weekend? Will gas prices affect your plans? Tell us in the comments below.