Hurricane Ian could push gas prices up, AAA warns

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Hurricane Ian could push gas prices up, AAA warns

An expert warned that a jump in gas prices could be caused by hurricane Ian, already disrupting offshore oil production in the Gulf of Mexico.

AAA spokeswoman Andrew Gross told FOX Business that the hurricane - the fourth such storm of the Atlantic Hurricane Season - but the first to directly threaten the U.S. could cause fuel supply problems, depending on the storm's track and the amount of damage the storm causes, which could push up prices in the short term, he said.

The national average for regular gasoline in the United States was $3.747 per gallon, up seven cents over the past week due to refinery issues that aren't related to the storm. A year ago, the average price was $3.189.

The U.S. National Hurricane Center NHC forecasts that the storm will hit the Gulf Coast of Florida by mid-week, with a life-threatening storm surge along much of Florida's west coast starting late Tuesday.

Forecasters warned that the highest risk areas are from Fort Myers to the Tampa Bay region.

Oil producers, including BP and Chevron Corp, have already started to shut down offshore production in the Gulf of Mexico, which could affect crude prices, which have been sliding for the past week, Gross said.

According to the Energy Information Administration, federal offshore oil production in the Gulf of Mexico accounts for 15% of U.S. crude oil production. The federal offshore natural gas production in the Gulf accounts for 5% of U.S. production.

Gross said it is possible that about a third of the Gulf rigs could be evacuated for safety, but that is only temporary. Gross said that Florida's distribution will be the bigger problem. The hurricane could wash out roads and damage pipelines.

Gross said that refueling gas stations could be a problem.

Petroleum analyst Patrick De Haan, who runs the website GasBuddy, said Tampa and Gainesville are seeing gas shortages.