Is his that serious about gas prices?

Question

They say just one hurricane and gas may go to 5 -6 or even 7 dollars per gallon.Do you believe that ??

Answer 1

That's as good excuse as any.But yes if a hurricane hits a refinery area look for price to go up.Because that would cut into supply.

Answer 2

I believe it could go that high, but not because of a hurricane.  Gas doesn't NEED to be going up, it's just that the government has our nuts in a vice.

Answer 3

If you can remember Hurricane Katrina-- the gulf coast has many offshore oil well and coastal refineries. Katrina shut down about 300 oil wells and 100 refineries for 2-3 months, about 1/2 of them had damage that took longer than 6 months to fix. Demand now is a bit higher and refinery capacity is tighter. remove 10% of refinery capacity and another 5% of production and see how high the price goes in 6 months.