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Jessica Jordan
Isaac is driving up gas prices in the D.C. area.
Isaac may not be headed our way, but it's driving up gas prices in the region. That's because 40 percent of U.S. refining capacity comes from the Gulf area.
As AAA Mid-Atlantic's Windy VanCuren explains, it's not that the storm poses an imminent threat to reserves, but those who set oil prices use the circumstances as an indicator of what may happen to supply.
"They have to cut the power off to make sure no water gets mixed in with the oil, and just take safety productions," says VanCuren. "About 80 percent of refiners down there have shut off production to protect themselves while the storm hits. And when that happens, although we have plenty of supply on hand, people get nervous and because of the nervousness of there being maybe an impact to supply prices start to go up."
VanCuren says there's no way of knowing how much prices will peak between now and then. National forecasts suggest that gas prices will be the highest on record for an extended Labor Day weekend.
NPR
Meet London's Master Architects In Jell-0
London duo Sam Bompas and Harry Parr have made names for themselves with their wild, experimental food installations. From pineapple islands and banana vapors to re-creations of famous architectural monuments, their work playfully pushes the boundary of how we experience food.NPR
Meet London's Master Architects In Jell-0
London duo Sam Bompas and Harry Parr have made names for themselves with their wild, experimental food installations. From pineapple islands and banana vapors to re-creations of famous architectural monuments, their work playfully pushes the boundary of how we experience food.NPR
Stunned By Military Sex Scandals, Advocates Demand Changes
As the nation prepares to mark Memorial Day, outrage has been building on Capitol Hill and beyond over the military's failure to repair a system that has placed service members in more danger of sexual assault than of battlefield injury.NPR
Google Reportedly Faces FTC Antitrust Probe Over Display Ads
The Federal Trade Commission is in the early stages of opening an antitrust probe into how Google runs its online display advertising business, according to a report by Bloomberg News, citing sources who want to remain anonymous because the FTC has not announced the probe.Leave a Comment
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