Gas Prices Rise as Industry Assesses Storm Damage

HOUSTON

Flooding, blocked roads and major power shortages are bound to cause problems for the refiners. At the same time, most of the oil and gas platforms in the Gulf of Mexico have been out of commission for two weeks, starting as Hurricane Gustav made its way into the Gulf in late August.

Gasoline became scarce around the Gulf in recent days as drivers filled up so they could evacuate their homes around the coast. Long lines were reported at stations across the region, and many stations closed because they had run out of fuel. The result was soaring prices on the regional wholesale market and at the retail pump.

New York Times