Gas prices are likely to rise due to Tropical Storm Isaac, creating a new political headache for President Obama at a time when polls show him leading Mitt Romney on energy policy.
The storm — which is expected to be a hurricane when it makes landfall — has forced suspension of more than three-quarters of Gulf crude oil production, with companies such as BP, Shell and Anadarko clearing workers from platforms. Several refining companies have also shut down facilities in the path of the storm.
Analysts said they expect gas prices, which are now hovering around $3.75 per gallon, to rise anywhere from 5 to 15 cents — an unwelcome development for Obama, whose reelection could hinge on how voters feel about the economy.
Patrick DeHaan of Gasbuddy.com said gas prices are certain to rise, though it’s hard to predict by how much.