Tropical Storm Isaac leaves motorists paying more for gas
by Press release--AAA
Aug 27, 2012 | 864 views | 0 0 comments | 7 7 recommendations | email to a friend | print
TAMPA, Fla. (August 26, 2012) – Oil production in the Gulf of Mexico came to a halt Friday as Tropical Storm Isaac neared oil platforms.

While it's still to early to tell how long Isaac will delay Gulf oil production, motorists have already seen a rise in pump prices.

The precautionary shutdowns alone are said to have caused a loss of 2 to 3 million barrels in Gulf oil production. Retail gas prices in Florida jumped 9 cents from last week and it's uncertain how much higher prices will increase, if at all, once Isaac dissipates. A barrel of oil settled Friday at $96.15 on the New York Mercantile Exchange — 14 cents more than the week prior.

"Only after Isaac passes through the Gulf, will experts be able to assess any damages and determine when oil production can resume," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Whether Gulf oil production resumes today or later this week, motorists are likely to see gas prices increase into the Labor Day holiday."

The national average price of regular unleaded gasoline is $3.75, a 3-cent increase from a week ago today. Florida's average for regular is also $3.75, however the increase is 9 cents more than last week. Georgia's average of $3.70 and Tennessee’s average of $3.56 both increased 6 cents from last week, respectively. Visit AAA’s Daily Fuel Gauge Report to find national, state, and local metro market retail gasoline prices.

Current and past gas price averages: National:

Current-$3.748

Last week-$3.720

Last month-$3.488

Last year-$3.592

Florida:

Current-$3.745

Last week-$3.659

Last month-$3.421

Last year-$3.562

Georgia:

Current-$3.700

Last week-$3.643

Last month-$3.398

Last year-$3.517

Tennessee:

Current-$3.555

Last week-$3.96

Last month-$3.274

Last year-$3.425
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