HOUSTON — Gas prices spiked for a third straight day Monday even as power was restored to a number of massive refineries along the Gulf Coast.
Hurricane Ike destroyed at least a dozen production platforms and drilling rigs in the Gulf of Mexico, and production is still shut down in the critical region.
While power has been restored at some refineries, the pipes that bring crude in and those that carry finished products away must also have power, and there were shortages all over the South and Midwest on Monday.
Overnight, retail gasoline prices nationwide rose an average of about a nickel for a gallon of regular gas, to $3.842, according to auto club AAA, the Oil Price Information Service and Wright Express.
In some regions, particularly the South, prices soared past $5.
Analysts said high – priced gasoline could be around for several weeks.
