You have commented 339 times on Rantburg.

Your Name
Your e-mail (optional)
Website (optional)
My Original Nic        Pic-a-Nic        Sorry. Comments have been closed on this article.
Bold Italic Underline Strike Bullet Blockquote Small Big Link Squish Foto Photo
Home Front Economy
Here We Go Again: Gas Price Spike From Ike
2008-09-12
Note - This happened during Katrina when somebody realized that SC is at the end of one of the bigger pipelines. There's been no panic, and the price hikes have been minimal so far...but it's coming. What was kind of interesting though were the rumors that swept through here Thursday night that Venezuela and the Magic Kingdom had cut off our oil supply.
COLUMBIA, SC (WIS) - The impending landfall of Hurricane Ike has caused issues with the price of gas and limits on the amount you can buy, according to officials.

"Hurricane Ike is projected to hit landfall in Texas Friday or Saturday and in anticipation of its storm path, refineries in the Gulf of Mexico have closed," said David E. Parsons, CEO and President of AAA Carolinas.

Michael Fields with the South Carolina Petroleum Marketers Association says gas prices have risen throughout the day and will continue to do so on the wholesale and retail level. "Gas prices have gone up and some stations have placed a restriction on the number of gallons customers can buy because it is unclear right now how long the refineries will remain closed or if they will sustain any damage," Parsons said.

Fields has also heard of several stations in the state such as the Pee Dee, the Lowcountry and the Upstate that are rationing gas out to customers.

In Sumter, all Kangaroo gas stations are imposing at 10 gallon limit. At the Kangaroo on Broad Street, they have put up a sign asking customers to limit their gas purchases. An attendant at the station says they aren't enforcing the limit at the moment, but may have to Friday and over the weekend.

Fields adds that all this is a preemptive move with Ike because of what happened with Hurricane Katrina. He calls the current situation "volatile" and says there is a concern about how much fuel will be available after Ike hits. "The worst thing that could happen would be for motorists to flock to gas stations to top off their tanks," said Parsons. "That will worsen the situation before anyone knows what the damage will be. We encourage people not to panic, drive conservatively and don't take unnecessary trips until the damage assessment is completed early next week."

Parsons says this gas spike comes on the heels of the closing of some refineries in the past few days based on the expected path of Hurricane Gustav, which did not cause any major damage and the refineries reopened and put more oil into the pipeline.

Parsons said most refineries made significant changes to their oil rigs after Hurricane Katrina three years ago and these upgrades are designed to protect against hurricanes.
Posted by:Mike Kozlowski

#12  Last night Charlie Gibson cut Gov. Palin off when she started to say that her energy industry experience is directly relevant to national security.  A quick look at Iran and Venezuela on the one hand and at the economic impact of high gas prices on the other hand makes it clear she was right and he was covering for the O.
Posted by: lotp   2008-09-12 21:53  

#11  We were up $0.13, 3.29 to 3.42. This could last a long time, also. 30% of US gasoline comes from Houston. Not only does banking and restarting refineries cause lots of problems, the silting of the Houston ship channel may take quite a while. This could be ugly. Unless your campaign slogan is drill here, drill now. Refine here, build now.
Posted by: Nimble Spemble   2008-09-12 19:29  

#10  No, my truck had less than a quarter tank and I have to haul 2 horses to North Georgia on Thursday.
Posted by: Deacon Blues   2008-09-12 17:16  

#9  DeaconMan, why did you go back? To get in line to top off?

:>
Posted by: .5MT   2008-09-12 16:39  

#8  I went back to the same gas station where I filled my car at noon and now gas is4 bucks a gallon. Jeebus!
Posted by: Deacon Blues   2008-09-12 16:08  

#7  So is there oil off the SC coast?

And with all the states gas tax revenues down, would drilling put some cash in state coffers?
Posted by: Bobby   2008-09-12 12:59  

#6  My tank was alomost empty so I stopped to fill up as usual. Lines of cars and people filling every gas can they can get their hands on. Bugwits. It's up to 3.80 here (East Tennessee).
Posted by: Deacon Blues   2008-09-12 12:54  

#5  um, why is it $3.75 in B-F Kentucky?
Posted by: Deadeye Phens7165   2008-09-12 12:42  

#4  gawd damn you invisible hand!


(Invisible Hand was the bastard child of Learned Hand and the Venerable Bean)
Posted by: .5MT   2008-09-12 11:56  

#3  In NC, they were already lining up for gas


http://www.ireport.com/docs/DOC-83658

Posted by: Anon4021   2008-09-12 10:00  

#2  Not here yet. 3.35 last night.
Posted by: tu3031   2008-09-12 09:51  

#1  Vancouver BC radio this morning was saying that prices in Ontario had jumped ~ 13 cents a leter overnight, 'due to Ike.' no price change here north of Seattle this morning.
Posted by: USN, Ret.   2008-09-12 09:47  

00:00