You might as well Fill up your car now

[StClone]

Gas prices are likely to climb a bit more over the next few days or weeks and what looks bad now will be acceptable by comparison. That is the consensus of my neighbors, friends and relatives seeing what's going on with Katrina in the Gulf.

[Pirate Smile]

1. Katrina set to raise oil prices

Katrina set to raise oil prices

Katrina has caused widespread damage in the Gulf of Mexico
Oil prices are likely to rise further this week after Hurricane Katrina caused producers in the Gulf of Mexico to halt production at the weekend.
At least 563,000 barrels of daily crude have been lost in the region since rigs and other facilities were shut down and evacuated on Saturday.

The Gulf of Mexico produces between 20% and 25% of oil consumed in the US.

Oil prices touched a fresh record high of $68 a barrel last week, as Hurricane Katrina approached the region.

US warnings of reduced petrol stocks, and China's continuing sky-high oil consumption are also continuing to put upward pressure on global oil prices.

Consumer impact

ExxonMobil, Shell and Total were among the oil firms to have closed their Gulf of Mexico facilities.

While some sites have been shut completely, others have maintained a skeleton staff. Gas facilities have been equally affected.

http://news.bbc.co.uk/2/hi/business/4192528.stm

[Spazito]

3. I'm in Canada and filled up today, I am sure the price will be up

worldwide come Monday.

[StClone]

2. That's what I'am talking about

Ahead of the curve DUers. Thanks for the link.

[ohio_liberal]

4. Filled up both cars this morning

I'd already read threads here about possible higher prices.

[Pirate Smile]

5. Here is what the NO Mayor said today:

"In an interview later with CNN, the mayor also referred to the potential impact the hurricane could have on the oil supply from the vulnerable area.

"The real issue - that I don't think the nation is paying attention to - is that through the city of New Orleans, through the Gulf of Mexico, we probably deal with almost a third of the nation's domestic oil that is produced. And that will most likely be shut down," Mr. Nagin said.

"So, this can have a significant impact on oil prices going forward," he added."

http://www.nytimes.com/2005/08/28/national/29katrinacnd.html?hp

[Pathwalker]

6. Up here in Michigan, people are buying gas cans, too.

Some stores have already sold out of 5 gallon gas cans.
Here we go, folks.