ST. LOUIS, MO (KTVI)– The price you pay for gasoline at the pump could be ready to jump quite a bit if it hasn’t already.
Hurricane Isaac shutting down gulf coast oil refineries and oil platforms is just part of the reason. There’s also a leak that shut down a Canadian pipeline, a Chicago refinery’s only working at half-capacity and the drought making water too low to get barges filled with oil and gasoline up the Mississippi river. All that’s driving up prices fast on commodities exchanges.
Gasoline prices could jump around thirty cents overnight if they haven’t gone up already. Analysts say these higher prices should last a couple of weeks.