Isaac Blamed For Gas Price Hikes
(Memphis) If you’ve noticed gas prices fluctuating from station to station when you drive around the Memphis area, fuel distributors say it’s all because of Hurricane Isaac.
“Everywhere I go, it seems like there is a different price up,” said Southaven Resident Jeremy Bone.
Driver Jeremy Bone chose Murphy Express in Southaven, because the deal was just too good to pass up.
Just down the road prices are about 40 cents higher.
“In Olive Branch a second ago, it was $3.60, here it is $3.37 and down the road it’s $3.50,” said Jones.
“Any idea why that is?” asked Reporter Sabrina Hall.
“I have no idea but I’d like to know,” he said.
While it’s a mystery to most drivers, local fuel distributors tells us it’s because the biggest supplier of gas in town raised its prices because of Hurricane Isaac.
They say on August 28, with the threat of the storm, Valero in Memphis upped its price by 27 cents a gallon.
Shortly after, many oil rigs in the Gulf of Mexico were closed due to the storm.
That means all the gas stations that bought fuel after that date had to raise their prices to make a profit.
Those stations that bought fuel before the storm could keep their prices low.
Distributors predict gas prices should even out around town by the middle of next week.