Business & Tech
Tropical Storm May Spark St. Charles Gas Price Spike
AAA officials have said that Tropical Storm Isaac — soon expected to become Hurricane Isaac — may send gas prices soaring.
Illinois gas prices are expected to rise sharply by this time next week, and prices already are climbing as Gulf Coast oil production slowed down on Monday ahead of the arrival of Tropical Storm Issac, which is expected to reach hurricane status.
AAA credited the production slowdown with spiking fuel prices that already have begun to be seen. In St. Charles, the average price Monday was $4.09 a gallon, although per-station prices fluctuated from a low of $3.97 per gallon to as much as $4.19 a gallon, according to GasPriceWatch.com.
The National Hurricane Center has predicted that the tropical storm will become a hurricane on Tuesday with 74 to 95 mph winds. It is expected to hit from an area southwest of New Orleans to the edge of Florida's panhandle. Forbes reported Sunday it could rival Hurricane Katrina.
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Tropical Storm Isaac targeted a broad swath of the Gulf Coast on Monday, bearing down just ahead of the seventh anniversary of Hurricane Katrina.
The potential for a landfall as a Category 1 hurricane as soon as Tuesday prompted evacuations along a wide area of the Gulf Coast and sent people out to stock up on staples.
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