AAA is warning that a 20% increase at the pump is possible in the Southeast as the Louisiana-based oil industry deals with the impacts of Hurricane Ida.
Why it matters: Beyond your own wallet, Labor Day-weekend tourism could be impacted if a sharp spike in gas prices makes travelers rethink trips to Florida.
Yes, but: It’s too soon to tell whether the spike will be temporary. That depends on how soon power is restored.
- The storm likely took about 13% of U.S. refining capacity offline, AAA reported.
- There were nine oil refineries in Ida’s path — four were believed to have shut down ahead of the storm.
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