Post-Katrina, gas prices at historic high
Associated Press (via Yahoo News):
LOS ANGELES — Damage to Gulf Coast refineries and pipelines by Hurricane Katrina pushed retail gas prices to historic highs in the past two weeks, with self-serve regular averaging more than $3 a gallon for the first time ever, according to a nationwide survey released Sunday.
The weighted average price for all three grades surged more than 38 cents to nearly $3.04 a gallon between Aug. 26 and Sept. 9, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations around the country.
Self-serve regular averaged $3.01 a gallon nationwide, according to the survey. Midgrade was pegged at about $3.11, while premium-grade was at nearly $3.21.
Damage from Katrina cut the Nation’s refining capacity, which was at full throttle, by 11 percent.
The Lundberg Survey says prices should fall in the coming weeks by 10 cents a gallon as demand drops.
It’s back about 2.99 here in DFW, 2.76 is the cheapest I’ve found it, of course this is all changing daily(Either up or down).