May 21, 2013
Some are concerned about the possible impact of Hurricane Rita on gas prices. Costs at the pumps did fall in the last week. The average in our state for regular is $2.84 a gallon. That's a substantial decrease from shortly after Katrina, when the hurricane knocked out two Gulf Coast refineries and two main pipelines that carry gas to the East Coast. Still, with Rita bearing down on oil assets in the Gulf, crude oil prices jumped more than $4.00 a barrel Monday. Experts say there is no reason to panic but to be prepared for the possible impact.
