According to a statement from the American Automobile Association, Hurricane Ida may cause a spike in gas prices in the next couple of days.
“Drivers will almost assuredly see gas prices rise this week, because of Hurricane Ida’s effects on the Gulf Coast,” said Mark Jenkins, a spokesman for the American Automobile Association. “Based on overnight movement in the futures market, a 10-20 cent jump at the pump is not out of the question. Where gas prices go from here will depend on the extent of the damage and how long it will take for fuel production and transportation lines to return to normal.”
Hurricane Ida made landfall in Louisiana on Sunday as a category 4 Hurricane with maximum sustained winds 150 mph, causing much damage to the area.
Why does this matter? Well authorities say that refineries in Louisiana, Texas, Mississippi and Alabama account for “more than 45% of the nation’s capacity for refining crude oil into gasoline and other important products. Additionally, the region is home to nearly 2,000 offshore oil platforms, which accounts for 17% of the nation’s crude oil production.”
Florida’s average price currently is $2.95 per gallon. It is unclear how much prices are expected to rise.