Threatened Oil Refineries Lead To Gas Price Hike

By: Meteorologist Lauren Raymer Email
By: Meteorologist Lauren Raymer Email

Texas is the leading crude oil-producing state in the nation and processes more the 4.6 million barrels of crude oil per day. The majority of refineries have evacuated in preparation of Hurricane Ike, causing gas prices to sky-rocket.

Professor Ken Troske, UK Economics Dept, says, "The increase in price reflects where this hurricane is going to land and how much damage it's going to do to the refineries in the area."

Oil that is pumped in all refineries must go through an extensive process before turning to gasoline and before making it to the pump.

"It's pumped out of the ground. It goes into the pipeline and is put into containers and is then shipped to refineries," Troske says, "and then it's sold at the local station."

The halt at refineries in the Gulf of Mexico has already led to a gas price jump of nearly a dollar in some Kentucky locations.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by steve Location: use your brain on Sep 15, 2008 at 02:44 PM
    That's what we need more refinery's and more American oil pumping and run this stupid liberal tree hugging congress out of Washington.We have not updated our energy since the 70's how smart is that.
  • by good liberal congress on Sep 15, 2008 at 02:39 PM
    You are stupid Ronald and know nothing about markets.
  • by viewer on Sep 15, 2008 at 05:33 AM
    besides being mad about the price going upI ask why so many refirys in the same area we dont want them in our area well the government and oil co do what they want buid some in other areas so when a problem happens we dont have it all down and get in to this problem
  • by Dave on Sep 14, 2008 at 08:54 AM
    Report price gouging to the Feds http://gaswatch.energy.gov
  • by viewer on Sep 13, 2008 at 03:26 PM
    just hit us a little harder kept demand up supply low kept up the price wow oil co gets rich we get poor that the american way start putting them jail for stealing thats all the oil companies are doing to us why the goverment lets them take advantage of the public we all have had enough lets figure out wat we can do and do it
  • by nworbekim Location: somerset on Sep 13, 2008 at 05:48 AM
    why are the oil companies so intent on busting the economy of the country? is it because most of them are owned by outside interests? i, for one am fed up... i'd surely like to see a class action law suit from the general population...
  • by duh Location: eastern,ky on Sep 12, 2008 at 08:57 PM
    threatened yes. not damaged, destroyed, or washed away. why can't the oil idiots cross that stupid bridge when there money hungry faces get to it?
  • by Anonymous on Sep 12, 2008 at 08:51 PM
    this will put many out of a job. if gas goes up to 5 agallon
  • by Ronald Location: Venable on Sep 12, 2008 at 08:44 PM
    WITH THAT KIND OF PRICE INCREASE NATION WIDE,IN ONE DAY THE PROFITS COULD BUILD SEVERAL NEW REFINERIES. I THINK THE OIL COMPANIES ARE BRINGING THIS COUNTRY TO IT KNEES WHILE THEY FILL THEIR POCKETS
  • by Kelly Location: KY on Sep 12, 2008 at 07:37 PM
    Troske really needs to watch old news reports. We have been told over and over again that the price of gas is going up because the price of oil has. Well, the price of oil is dropping, yet the price of gas is still going up. We've also been told over and over again that we get our oil from overseas. So if we get our oil from overseas, how does a hurricane in Texas justify the price increase?
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