Katrina raised gas prices higher than ever

September 11, 2005 

The retail price of gasoline has risen higher than ever in the wake of Hurricane Katrina. The losses from the deadly hurricane include the destruction of oil refineries all around the Mexican Gulf area, and resulted in a cut of nearly 11 percent of U.S. refining capacity. 
It is estimated that 897,605 barrels of oil production has been curtailed, an amount which accounts for nearly 59.8% percent of the Gulf of Mexico's total daily output. Since Katrina, 17.1 million barrels have not been produced. There were 122 oil platforms shut down, out of 819 platforms in the Gulf. 
The national average retail price for gas was $3.04 on Sunday. This exceeds the previous inflation-adjusted record of $3.03, set in March of 1981.
Katrina raised gas prices higher than ever September 11 , 2005 The retail price of gasoline has risen higher than ever in the wake of Hurricane Katrina . The losses from the deadly hurricane include the destruction of oil refineries all around the Mexican Gulf area , and resulted in a cut of nearly 11 percent of U.S. refining capacity . It is estimated that 897,605 barrels of oil production has been curtailed , an amount which accounts for nearly 59.8 % percent of the Gulf of Mexico 's total daily output . Since Katrina , 17.1 million barrels have not been produced . There were 122 oil platforms shut down , out of 819 platforms in the Gulf . The national average retail price for gas was $ 3.04 on Sunday . This exceeds the previous inflation - adjusted record of $ 3.03 , set in March of 1981 .
Katrina
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gas prices
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September 11, 2005
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The retail price
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gasoline
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the wake
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Hurricane Katrina
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The losses
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the deadly hurricane
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the destruction
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oil refineries
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the Mexican Gulf area
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a cut of nearly 11 percent of U.S. refining capacity
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nearly 11 percent
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U.S. refining capacity
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897,605 barrels
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oil production
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an amount
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nearly 59.8% percent
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the Gulf of Mexico's
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total daily output
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Katrina
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17.1 million barrels
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122 oil platforms
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819 platforms
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the Gulf
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The national average retail price
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gas
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Sunday
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the previous inflation-adjusted record
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March of 1981
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U.S.
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