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Isaac Blamed for Price Jump At Gas Pump
Refineries Close As Storm Becomes Hurricane
MILWAUKEE-While some stations are holding steady with gas prices averaging $3.79 a gallon, on Tuesday CBS 58 News found some stations that are charging more than $4 a gallon.
Dr. Abdur Chowdhurry, Professor of Economics at Marquette University, tells CBS 58's Stephanie Brown that, "Along the gulf coast a number of refineries have been closed and these refineries account for about anywhere from 16% to 20% of the total gas supply in the United States."
Drivers who are forced to pay up aren't buying the explanation.
"They don't wait to see what's going to happen before they put up the prices," Ginny Williams complains, "they just assume and the prices just jump."
Experts believe the elevated prices will stay with us for a week or two.
The prices will only drop gradually, at nowhere near the rate they jumped overnight.