Imagine my shock driving home from work and passing a BP where gas had jumped from $2.69/gallon to $3.09/gallon since the morning. That was yesterday and today it seems that the ripple effects of Hurricane Katrina are growing into waves as MSNBC reports. One reader tipped us that Fox News was reporting the price of gas in Atlanta, GA had reached $5.87/gallon somewhere, although we couldn't substantiate that. World News Tonight had a report yesterday evening on which Midwestern states were seeing the largest jumps, and lo and behold my state of Ohio was at the top of the list with an average rise of $.50/gallon. There are so many questions that come to mind while trying to process this. Will gas prices stay at elevated levels? Will more refineries be built? Will consumers pressure automakers for more fuel-efficient vehicles after experiencing life at over $4.00/gallon? Here's hoping you filled your tank before yesterday.
UPDATE: The Car Connection has a piece corroborating the $5.87/gallon story on Fox News.