Gas prices are steadily climbing, especially along the coastal U.S. as everyone awaits the approaching Hurricane Isaac. Isaac, has forced the closure of many oil and refining facilities.
A survey has shown that the national price for a gallon of regular gas crept up 0.6 cent to $3.75 as of today. Greater rises were noted in the states’ along the coast preparing for the storm. Gas jumped 2.5 cents to $3.64 a gallon in Louisiana, more than 2 cents to $3.56 in Mississippi, and 1.3 cents to $3.58 in Alabama.
Tom Kloza, chief oil analyst for the Oil Price Information Service estimates that the national average could shoot up by 10 cents due to the disruption to supplies from Isaac. It leaves me wondering…how long will this price increase last?