Gas Prices Could Spike By Week's End

By: Janet Kim Email
By: Janet Kim Email

We may be feeling the effects of Hurricane Ike sooner than later.

AAA expects gas prices to spike by the end of the week as the storm moves towards the hundreds of oil rigs in the Gulf of Mexico.

Average gas prices here in Lexington are at its lowest since April. Prices are hovering under $3.50 at many gas stations in the area, some as low as $3.45 a gallon. But that could soon end.

However, an OPEC meeting on Tuesday and the uncertainty of Hurricane Ike's path could drive prices back up by the end of the week.

OPEC will meet Tuesday to determine whether or not to cut crude oil production.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Liberty Location: Illinois on Sep 12, 2008 at 01:26 AM
    I believe this falls under the golden rule. He who has the gold makes the rule. And I don't believe those powers that be care much about partisanship. They are on whichever side makes them the most money at the time. If we'd have been drilling for the past 30 years; we'd have plenty of oil... and they'd have less money. And if we the people would quit fighting about donkeys and elephants we might be able to get SOMETHING... ANYTHING done. Checks and balances can be a blessing and a curse. No one person or party can be blamed. There is no oil shortage and hasn't been. Remember the last spike right before Katrina? Gas was $1.33 in Oklahoma. Remember how after the spike the oil companies had record profits? This proves that spike was unnecessary. Well, has anyone seen the price go down to correct for the huge stock bubble? I predict the bubble will pop.... eventually. It might be a while though.
  • by gale Location: Lancaster Ky on Sep 10, 2008 at 12:11 PM
    Any reason to raise gas prices.
  • by Jay Location: KY on Sep 10, 2008 at 09:22 AM
    Hey all they look for is an excuse to raise prices..back when Katrina hit New Orleans, my house insurance went up double here! Now someome explain to me why I have to pay for the destruction in LA from here?
  • by kelly Location: Lex on Sep 10, 2008 at 07:15 AM
    I agree with Terri, HE HAS IT SO RIGHT. The republicans are owned and CONTROLLED by big oil.
  • by JT on Sep 9, 2008 at 12:57 PM
    To Terri, Yes, yes it's the Republicans fault. In the last eight years there hasn't really been a boon to China's & India's, etc. economy thereby producing more auto buyers using more fuel! You have to be a Democrat. Ideas and rational such as this is the reason the Democrats can't come up with a decent candidate. Newsflash: Poor people have been voting for Democrats for 50 years and guess what....they're still poor!
  • by Anonymous on Sep 9, 2008 at 11:22 AM
    the way i see it let the people in mexico pay for the own disaster instand of us having to take the heat for it by having to pay high gas prices cause if you ask me I dont think it is fair to us in the USA us having to pay for what happen to the mexicans and places like that they choose to live there they should be the one states and countries to pay not us
  • by Lynn Location: Knoxville Tn on Sep 9, 2008 at 09:39 AM
    It is already went from $3.49 to $3.63 here 2 days ago
  • by Tim Location: Lexington on Sep 9, 2008 at 09:12 AM
    Amen to everything David wrote. By reporting this story, 27 Newsfirst lends credibility to the notion that gas prices will spike when there is absolutely no reason why they should. This report will serve the oil companies' desire to make us anticipate a rise in gasoline prices, so we won't be so hacked off when it happens. The only problem is, there is no reason for oil prices to be as high as they are and certainly no reason for them to go any higher given Ike's projected path, declining oil prices, a stronger U.S. dollar and declining consumption at home. Let's get real and not do the oil companies' bidding for them.
  • by Duran Location: LEX on Sep 9, 2008 at 07:32 AM
    go read bloomberg idiots OPEC will keep with its production levels.... so WKYT needs to quit scaring people with their stupid reports!
  • by kerri on Sep 9, 2008 at 07:13 AM
    Republican owned and run oil companies are robbing all of us,can't you see?
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