Tropical Storm Isaac Expected to Boost Minneapolis Gas Prices
Predictions range from a 10- to a 25-cent increase.
It looks like the 2012 Republican National convention isn't the only thing that's going to be hit by Tropical Storm Issac.
The National Hurricane Center has predicted that Issac, which is currently ripping across the Gulf of Mexico, will become a hurricane on Tuesday with 74 to 95 mph winds.
And with dozens of oil rigs sprinkled across the Gulf Coast, many have been evacuated and shut down, according to CNN. The stopped oil production, of course, will likely cause already rising gas prices to go up even more in the coming days and weeks.
On Monday afternoon, the cheapest gas available in Southwest Minneapolis was at the BP station at 54th and Lyndale, at $3.63 per gallon. The cheapest gas in Minneapolis is available at the Stop And Go location at 2651 Johnson Street NE, at $3.58 per gallon.
Officials at AAA are predicting an increase of 25 cents in our southern neighbor of Iowa, while USA Today and CNN report an average increase of 10 cents nationwide. In a Savage Pacer article, GasBuddy.com a senior fuel anaylst, Patrick DeHaan, said:
"While this storm doesn't currently appear as powerful as other storms that have caused similar concern—we're continuing to watch the situation develop. One thing is for sure: I'm concerned that this storm will temporarily drive prices higher in the short term."
Tropical Storm Isaac targeted a broad swath of the Gulf Coast on Monday, bearing down just ahead of the seventh anniversary of Hurricane Katrina. By Tuesday, the hurricane is could hit from an area southwest of New Orleans to the edge of Florida's panhandle.
Currently, the storm is expected to make landfall as a Category 1 hurricane, however, there are other storm models that suggest it could land as a Category 3.