What’s going to happen to fuel prices?
Posted By RichC on September 13, 2008
There is a lot of discussion on TV about the possibility of a significant rise in fuel prices in the wake of Hurricane Ike hammering Texas and Louisiana. As I post this message on Saturday morning just a few hours after Ike came ashore, the conclusion is that the shipping channel in Houston is ok, only two oil platforms have been set adrift and don’t pose any current danger. The Colonial Pipeline is shutdown (supplies the northeastern part of the U.S. with oil) and there has yet been a report on damage to the refineries. We do know that nearly 25% of all our refined fuel comes from this area, so any significant damage will affect the price of gasoline, diesel and jet fuel. So far in my area of Ohio there hasn’t been any “gouging” as is being reported in some states, but its still early …
Reports are that fuel prices could rise one or more dollars over the next couple day and weeks, let’s hope not.
Here are a few national number from Thursday and Friday from “GasBuddy.com.”
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