Analysts Predict Hurricane Related Jump In Gas Prices
Washington, DC — Energy analysts say Hurricane Katrina will hurt every American, even those who are not directly in the path of the storm.
Experts say the storm´s impact on oil and refinery operations in the gulf of Mexico could possibly cause a 15 to 20 cent per gallon jump in gas prices by the end of the week.
Oil analyst Peter Beutel says the storm will take it´s toll on production facilities in the gulf.
He says anything that interrupts production or supply levels will definitely have an effect on oil prices.
Katrina has already made an impact on crude prices as futures spiked to $70 a barrel in overnight trading.