Katrina causes gasoline worries in Memphis - WMC Action News 5 - Memphis, Tennessee

Katrina causes gasoline worries in Memphis

Gas prices in Memphis are about to rise again.

Distributors picking up gas Tuesday paid 40 cents more a gallon than on Monday.

The Mapco gas station at Cooper and Central shut down Tuesday, totally out of gas, offering sandwiches and drinks only. The BP station at Cooper and Union ran out of regular gas.

The supply problems were caused by a major disruption in the fuel supply chain, due to Hurricane Katrina.

Sources inside gas distributors in Memphis tell Action News 5 rack prices, the price it costs to fill tanker trucks, jumped 40 cents a gallon for regular, and 30 cents for diesel in just 24 hours. Those cost increases will be passed on to consumers.

Analysts said Tuesday gas prices could top out over $2.90 per gallon in Memphis by Labor Day Weekend.

Supply is also a concern. Many stations in Memphis are out of certain grades of fuel, and unless gulf production can begin again, analysts speculate as prices rise, the domestic fuel supply could dwindle.

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