Photo: NOAA via GasBuddy
GasBuddy.com’s Patrick DeHaan is up with a late-Friday post noting Tropical Storm Isaac is already causing gas prices to rise.After cooling off in the past week, gas prices jumped 3.2 per cent upon Isaac’s upgrade from a mere depression, and DeHaan writes prices the increase is likely to spill over into labour Day:
“This now sets the stage for a new higher push in gasoline prices, just in time for the labour Day weekend. While many may blame the holiday, and as tempting as that may be, it’s this organised storm that is the foundation for price increases.”
BP has already shut down one rig, and CNBC reports Shell is evacuating support personnel from its Gulf platforms.
Landfall for the storm is expected Wednesday.
Business Insider Emails & Alerts
Site highlights each day to your inbox.