Hurricane Ida may push gas prices even higher
CNN
Hurricane Ida's direct hit on the nation's oil and gasoline industry could send gas prices higher, exacerbating inflation that's already hurting American consumers.
But how much prices will increase, and for how long, will depend on the extent of the damage. The storm hit Louisiana and the Gulf Coast on Sunday, killing at least one person and knocking out power for more than 1 million customers. The price of a gallon of regular gas stood at $3.15 Monday, according AAA, up only a fraction of a penny from the previous day's average, and down 1 cent from a week ago. But wholesale gasoline futures were about 5 cents higher in early trading Monday. They were up as much as 10 cents a gallon in Sunday night trading, suggesting retail prices could soon follow suit.
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