Output from oil refineries along the Gulf Coast has been cut because of Isaac, but CNN Money is reporting that experts expect the damage from the hurricane to be minimal and that refineries will return to peak operating levels soon.
Alabama and Texas have seen some of the sharpest increases. In Alabama, the average price of a gallon of regular is $3.62 today, up from $3.58 on Tuesday. Today in Texas, a gallon of regular costs $3.64 on average, up from $3.58 the day before.
The climb has been more gradual in Louisiana and Florida. In Louisiana, the average price rose from $3.64 on Tuesday to $3.69 today. In the Sunshine state, a gallon of regular cost $3.74 Tuesday and costs $3.77 today.
It’s not just the Gulf States that are feeling the pain at the pump today. In Hurricane-free Illinois, for example, prices jumped about 10 cents overnight, with the average cost of a gallon of regular inching back over $4 today: Tuesday’s average price of $3.98 for a gallon of regular jumped to $4.08 this morning.