Gas Prices Expected to Spike as Tropical Storm Isaac Threatens the Gulf

Oconee residents may want to fill up their gas tanks early this week as Tropical Storm Isaac builds steam in the Gulf of Mexico. Currently the U.S. National Hurricane Center predicts the storm will hit shore somewhere between Florida and Louisiana by the middle of the week.

According to a report on Reuters, meteorologists at Weather Insight, a service of Thomson Reuters, are predicting that the storm will cause short-term shutdowns of 85 percent of the U.S. offshore oil production capacity and 68 percent of the natural gas output. Low-lying fuel refineries that account for approximately 40 percent of the U.S. refining capacity are also located up and down the Gulf Coast and are threatened by now Tropical Storm Isaac.

In Florida gas prices have already jumped 9 to 12 cents from last week as Isaac passed by the coast in Tampa and forced precautionary shutdowns in Gulf oil production. The Wall Street Journal is reporting that at this time BP PLC., the Gulf's largest producer of crude has shut down all deep water oil production in the region and Chevron Corp., Anadarko Pertroleum Corp., and BHP Billiton were also evacuating their crews.

With the current threat of Hurricane Isaac and the precautionary shutdown of oil production in the Gulf, Georgia residents can plan on a possible increase in gas prices that may continue into the Labor Day Holiday weekend.

Want to fill up with the lowest priced gas in the Oconee County area? Motor Trend.com lists the following prices per gallon for regular gasoline as of Aug. 27.

• $3.69 at Golden Pantry, 2241 Mars Hill Road, Watkinsville
• $3.72 at Chevron, 5300 Macon Hwy., Bishop
• $3.73 at Shell, 1461 Greensboro Hwy and 4500 Monroe Hwy in Watkinsville

The Racetrac located at 7921 Macon Hwy., in Watkinsville has the lowest price on Plus at $3.59 per gallon.