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Tropical Storm 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 tropical storm 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 Libertyville and Vernon Hills 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.

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 Libertyville is $4.05 at Marathon, 704 N. Milwaukee Ave., and $4.09 at both BP (113 N. Milwaukee Ave.) and Libertyville Shell (109 S. Milwaukee Ave.).

Gas prices are similar in Vernon Hills, where the cheapest gas is $4.05 a gallon at Bucky's Express No. 438 (294 E. Townline Road), Ernie's Wrecker Service (909 S. Milwaukee Ave.) and Peacock Marketplace and Car Wash (860 S. Milwaukee Ave.).

AAA is projecting that 33 millions Americans will travel at least 50 miles over the Labor Day weekend, a 2.9 percent increase from Labor Day Weekend 2011. Here in Illinois, 1.8 million people are expected to travel, a 2.6 increase over last year.

Will the higher gas prices impact your holiday travel plans? Tell us in the comment section!

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