$4.00 A Gallon?!

August 31, 2005 at 1:43 pm in Uncategorized

2005_08_16_shell_gas.jpg(Photo courtesy of Lori Shepler/LAT.)

I’ve been swamped at the office the past few weeks, so I finally got a chance to read about Katrina’s devastation last night. Adding to the information overload is the fact that gas prices could skyrocket even further:

Consumers can expect retail gas prices to rise to $4 a gallon soon but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.

“There’s no question gas will hit $4 a gallon,” Ben Brockwell, director of pricing at the Oil Price Information Service, said. “The question is how high will it go and how long will it last?” …

Brockwell said with gasoline prices now exceeding $3 a gallon before even reaching the wholesale level, it “doesn’t take a genius” to expect retail prices to hit $4 a gallon soon.

“Consumers haven’t seen the worst of it yet,” Brockwell said.

As if there wasn’t already enough incentive to conserve gas…

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