Gas Prices Rise as a Result of Hurricane Isaac

From last week, into the weekend and onto the beginning of this week, all eyes were on Hurricane Isaac. As far a early last week, Isaac made its way through the Caribbean Islands and Hispaniola bringing devastation to the Dominican Republic, Haiti, and the Northeastern part of Cuba. Soon after, the path was projected to hit the Florida Keys as well as covering most of South Florida. When Sunday came around, the Hurricane somewhat dispersed and went further west sparing South Florida of the parts of the storm that were much more damage causing.  In that very instance, a new track was sent out from the National Hurricane Center, which showed the new path for the storm bearing even more bad news. The storm would now be affecting the majority of the Gulf and was making way to hit New Orleans on the very day it was to reflect 7 years after Hurricane Katrina hit in 2005.


The situation became two fold. As a result, the Oil Refineries that exist along the Gulf Coast are now temporarily yielding production until Hurricane Isaac is no longer in existence.  Hence, gas prices have been rising significantly not only in the surrounding areas, but all North and South. The article states that this has been the biggest gasoline price jump in about 18 months. Along the Gulf, it is stated that on average, it appears that 1.3 barrels of what could be produced, have been halted. The article even went on to state that in places such as Cincinnati Ohio, from one day to another, gas went from $3.56 to 3.95. That indeed is a huge spike in prices.


Aside from the rising gas prices, my thoughts and prayers reside with those along the Gulf Coast and especially in New Orleans, hoping that they will not have to face the same devastation as they did back in 2005 with Hurricane Katrina.


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