Isaac Pushes Gas Prices Higher
Tropical Storm Isaac is not only dumping rain on the Gulf Coast; the storm is also contributing to higher gas prices.
The average price of a gallon of unleaded gasoline is $3.66 in Austin. That’s up 10 cents from last week.
AAA Texas says the main reason for the price increase is that several refineries along the Gulf Coast closed before Isaac hit land. But analysts say the rise should be temporary.
“So long as this storm does not cause significant damage to those refineries, we’re very hopeful that this price spike will be short-lived,” said Doug Shupe, a spokesman for AAA Texas. “We’ve also been hearing from analysts that once the Labor Day holiday is over, these gas prices should be going down.”
The average price in the state is $3.64. That’s still well below the national average of $3.80.
Despite the weather and the higher gas prices, AAA Texas says 2.4 million Texans are expected to travel for Labor Day weekend.