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Energy and Environment

Hurricane Ida shuts down refineries — here’s what it means for gas prices

By Josh Siegel
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Hurricane Ida shuts down refineries — here’s what it means for gas prices

Hurricane Ida is likely to lead to some increase in gasoline prices, but nothing dramatic, analysts say.

Oil prices have not surged despite Ida forcing the shutdown of 96% of oil production and 94% of natural gas output in the U.S. Gulf of Mexico. Oil prices are the biggest contributor to prices at the pump.

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COVID-19 Gulf of Mexico (Gulf of America) Louisiana OPEC