Wednesday, July 27, 2011

Potential Gulf storm could cause spike in gas prices

-- 27 July 2011 -- reports with a tropical system headed toward the oil-rich Texas coast this week, concerns are being raised about what impact this will have on prices at the pump.

If you want to be safe, fill up now.

"If the system moves more toward the northwest than west, it could affect the western fringes of the oil field," said Tropical Expert Dan Kottlowski.

As evidenced in the past, temporary spikes in gas prices do coincide with tropical systems moving through the Gulf of Mexico. Just last year, spikes occurred in conjunction with hurricanes Alex and Karl, Tropical Storm Hermine and Tropical Depression Five.

The current system is expected to make landfall over Texas late Friday or Friday night. "It will probably be a tropical storm, but it is very possible the system could develop into a minimal hurricane," Kottlowski stated.

- Jeffrey L. Frischkorn