TAMPA, Fla. – Labor Day gas prices were the highest they have been in four years and with Tropical Storm Gordon barreling toward the Gulf Coast, gas prices could go even higher.
AAA reported, “On average, prices at the pump were 50-60 cents more than last year's holiday.”
With Tropical Storm Gordon projected to become a Category 1 hurricane before making landfall on the Gulf Coast, drivers might see prices climb even more.
Nearly half of the nation’s gas refinery capacity is in the Gulf Coast. No refineries or oil rigs have shut down yet, but they are making preparations for the storm.
"It's too early to know just how much of an impact - if any - Gordon will have on prices at the pump," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Market watchers will pay close attention to how refineries respond to this storm. Any supply outages would likely cause prices to climb."
When Hurricane Harvey made landfall last year in Texas as a Category 4 storm, pump prices surged, jumping 47 cents within five days of the storm.
As you keep an eye on the tropics, also keep an eye on the pump.