Hurricane Isaac Intensifies, Gas Prices Rise

Gas prices could go up 10 cents in the next week because refineries were taken offline as Isaac threatens the Gulf Coast.

As Hurricane Isaac intensifies and threatens the Gulf Coast with significant storm surge and hurricane force winds, oil companies with refineries in Louisiana have started to evacuate employees and shut-down operations.

The result will likely mean higher gasoline prices for Niles and Morton Grove-area drivers.

AAA is reporting that it is likely drivers across the country will experience higher gas prices as a result of the tropical storm heading toward the Gulf Coast.

Roughly 1.3 billion barrels a day or 8 percent of the country’s refining capacity was taken offline in preparation of Isaac making landfall in Louisiana, according to a story on the Wall Street Journal Monday.

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Prices could rise another 10 cents in the coming week, according to a story on CNN Money

The nationwide average price of gasoline on Monday was $3.75 a gallon, according to AAA. Closer to home, the agency said the average gallon of gas in Illinois was $3.988. 

The cheapest gas around the area Wednesday morning was at the  BP at Howard Street and Milwaukee Avenue, Niles, where gas was $4.09. Thornton's station on Touhy just east of Greenwood, Park Ridge, where a gallon of gas was $4.14. Other area stations were charging about $4.20 per gallon. 

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