Why does it seem a projected hurricane increases the price of gas when this never occured in the past?

Question

Up until 3 years ago, fuel prices were never affected by the weather. This has to be a result of oil speculation instead of supply and demand as it used to be.

Answer 1

It always was a factor in crude oil price.  It was just that the prices were so low that the difference was not very noticeable.  Today, with the world demand being so high, any perceived threat to the supply causes jitters.  Once the USA finally starts drilling for more oil, (very soon) the price will fall precipitously.

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Answer 2

Could it be that the projected hurricane path runs right over several major offshore oil drilling platforms and land-based refineries and that the loss of those facilities have a large impact on oil supplies?

or

The oil companies have picked up weather as just another excuse to raise prices.

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Answer 3

I'm from Louisiana and we have alot of offshore drilling rigs. In fact during Rita, there was alot of damage which already helped raise gas prices. When there was another threat of a storm companies know it will cost more to fix  them once again, plus the money they will lose during there down time. Plus they know if everyone in LA> evacuates, they will dry up all reserve gas at that time and we will pay whatever they are asking at the time.