Metro Detroit gas prices hover near $4 per gallon - DC News FOX 5 DC WTTG

Metro Detroit gas prices hover near $4 per gallon

Posted: Updated:
  • Metro Detroit gas prices hover near $4 per gallonMore>>

  • Tracking Isaac: The latest on the storm's path

    Tracking Isaac: The latest on the storm's path

    Tuesday, August 28 2012 1:01 PM EDT2012-08-28 17:01:42 GMT
    Hurricane Isaac is expected to hit over southeastern Louisiana, possibly the New Orleans area, sometime Tuesday night or early Wednesday and is gaining steam with sustained winds swirling at 75 mph.
    Hurricane Isaac is expected to hit over southeastern Louisiana, possibly the New Orleans area, sometime Tuesday night or early Wednesday and is gaining steam with sustained winds swirling at 75 mph.
  • Isaac: Metro Detroiter ready to house her family, if necessary

    Isaac: Metro Detroiter ready to house her family, if necessary

    Monday, August 27 2012 10:51 PM EDT2012-08-28 02:51:40 GMT
    Isaac is heading towards the Gulf Coast as the anniversary of Katrina approaches.  Meanwhile, Oxford resident Melissa McClain says she's ready to host her family here in Michigan, if necessary.
    Tropical Storm Isaac is heading towards the Gulf Coast as the anniversary of Katrina approaches. Meanwhile, a metro Detroiter says her door is open should her family find they need a place to stay.
(WJBK) -

Pump prices are heading higher as Tropical Storm Isaac forces several major refineries along the Gulf Coast to halt production in preparation for high winds and heavy rains.

Fear of reduced gasoline supplies sent wholesale gasoline prices up 7.7 cents, or 2.4 percent, to $3.155 per gallon Monday. The average retail price for a gallon of gasoline in the U.S. rose to $3.75 on Monday, and it could pass $3.80 by Labor Day weekend, says Tom Kloza, chief oil analyst at the Oil Price Information Service.

Meanwhile, prices in Detroit averaged $3.96 per gallon, nearly 25 cents higher than the national average, according to GasBuddy.com.

Click here to view myFOXDetroit.com's Gas Tracker.

Refineries should also escape damage. But refinery owners often shut down operations in advance of a storm. These facilities consume enormous amounts of electric power and generate steam to cook crude oil into gasoline, diesel, jet fuel and heating oil. If a refinery loses power suddenly, operators can't properly clear the partially cooked oil out of pipes, and re-starting the refinery can take several days or even weeks.

If refineries instead conduct what is known as an orderly shutdown, they can re-start as soon as the power supply is assured again. The Gulf refineries will likely stay off line for about three days.

About 1 million barrels per day of refining capacity is expected to be shut down, roughly half of the refining capacity in the potential path of the storm. The U.S. consumes about 19 million barrels of oil products per day.

About one-quarter of the nation's oil is produced in the Gulf of Mexico. As of Monday afternoon, about 80 percent of Gulf oil production was suspended, according to the Bureau of Safety and Environmental Enforcement. Companies have evacuated 346 oil and gas production platforms and 41 drilling rigs.

- The Associated Press contributed to this report

Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices