Gasoline prices nearing $6 in wake of Ike
Gasoline prices neared $6 a gallon in parts of the United States in the wake of Hurricane Ike, which blew through eastern Texas, where much of the country's refining capacity is located.
Even before Hurricane Ike smashed into the US Gulf Coast it had already made an economic landfall, sending wholesale gasoline prices soaring Friday and straining the nation's fuel supply chain.Wholesale gasoline prices on the Gulf Coast moved even further into uncharted territory to around $$4.85 a gallon on fears of vast fuel shortages as the hurricane honed in on the mass of refineries that line the upper Texas coast.