Katrina & Gas Prices

By: James Steiner
By: James Steiner

The punch "Katrina" is packing...could mean even higher gas prices at the pump.

We could soon see regular unleaded sell for more than $3 a gallon in the Truckee Meadows.

Three thousand miles away, Hurricane Katrina is having her way with the Gulf Coast.

Wind gusts and sheets of rain have rattled energy markets sending crude oil to a new high of more than seventy dollars a barrel, and setting the stage for a spike in retail gasoline prices.
Analysts say usually gas prices peak in August, and then drop after Labor Day when people begin driving less.

Damage from hurricane Katrina could change all that.

According to AAA, regular unleaded was $2.79 a gallon Tuesday in Reno.

Consumers worry the aftermath of the hurricane could send prices through the roof.

Analysts are hoping the spike won't last long and gas prices will drop to $2.50, $2.60 a gallon in the next few months.

Drivers are optimistic because they say it can't get much worse.


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