Hurricane Ike and gas prices / oil infrastructure

[Clarence Bennett]

Gas cannot be found in the Nashville Metro area. It has been total panic that has caused it. Alot of people topping their tanks off that don't need to. I drove 30 miles west of Nashville late last night in my wifes car, just to get 3 gallons of gas in a container so that I could get to work this morning, downtown. During my lunch break, I was able to find gas at a well hidden little station near downtown for $4.19 a gallon. $50 got me a half tank in my Tahoe...argh!!!

 

[Rob Satkus]

It's really amazing to hear of the panic conditions out east...here in Norman gas is down to as low as $3.18 a gallon in several spots, highest I saw today so far was $3.39. For the most part, prices are about .20 lower now than they were even before Ike showed up.

RS

 

[Jim Leonard]

Don't get too confortable yet Rob. I heard that oil went up $25 per barrel today, has backed down somwhat to $18 last check. They claim the dollar will really loose value with this bank bail out going on.

 

[Patrick Martin]

My wife paid $3.42 at Costco in Westminster CO on Saturday, lowest I've seen in Metro Denver so far. Most places are right about $3.59.

It should be interesting to see how gas prices are impacted this week. Supply concerns over the impact of Ike + Saudi potentially cutting back production + concern about the economic bailout sent the dollar down, and oil surging up $16.37 to settle at $120.92 per barrel today. It was as high at $129/barrel earlier in the session.

Although, today was the last day of the month for trading of October contracts, which in itself makes it volatile, so it will be quite interesting to see if we get something of a pullback in the coming days. Either way, it's going to be a bumpy road for gas and home heating oil in the months to come.

 

[Adam Penney]

Yes its true, oil prices took its biggest one day jump EVER today, spiking up $25.00 a barrell. Gas down the street from me here in the KC metro area in Lee's Summit currently sits at $3.29. I will be filling up this afternoon as I am sure it will go up ATLEAST a dime by tomorrow morning.

 

[Tim Kosier]

Gas here in St. Pete today was in 3.70 range. Im sure with the bump today it will go up rapidly here. During Ike the prices were all over the place until the Gov.said where watching and checking all complaints about over-pricing.