Not surprisingly, gas prices in Suwanee have taken another jump, thanks no doubt to Hurricane Isaac and the approaching Labor Day weekend.
The latest reported prices (Wednesday, Aug. 29) on georgiagasprices.com show a low of $3.89 per gallon. Other stations already are well above the $3.90 mark.
-- How high do you think gas prices will go? Are you changing your driving habits? Tell us in the comments below.
Even before Isaac made landfall Tuesday evening, oil companies with refineries in the Gulf of Mexico had begun shutting down their operations. Refineries in that area are responsible for much of the nation's gasoline production. According to weather.com, the slow-moving storm is expected to hammer the New Orleans area with heavy rain and strong winds through Wednesday.
Also, the Labor Day weekend annually is one of the nation's top vacation times, with many drivers hitting the highways. That also pushes up gasoline demand.
The previous high price in the 30024 ZIP code in 2012 had been $3.80. It was just on Aug. 27 that the Suwanee price was at $3.77.
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David Quinn
6:42 am on Wednesday, August 29, 2012
Another 15 cents? We sheeple are getting used to this. This time, "experts" told us that a bear farted next to a tanker truck and the lingering smell caused the driver to delay unloading. Because that bear was still on the loose, it is possible that other tanker trucks could be affected. Gas shot up 20 cents a gallon on the news.
A fire at a west coast refinery? A fire in a refinery in Venezuela ( how much oil is used in the US from Venezuela?), now a tropical rain storm and gas has shot up 15 cents a gallon ...WITH ZERO ACTUAL IMPACT TO SUPPLY ... This is profit taking and speculation. We should be sick of it by now. Speculators bid the price up based on any news they can use to justify it, price goes up, inverse reaction causes economic slowdown, people go out of work, money gets moved, gas prices go down, cycle starts over. This time, prices will be high through Labor Day at which time recovery in the sector will push prices back down. This time, we got to 4 and more. Wait till Christmas - 5.00 per gallon probably based on maintenance. What a bunch of crap.