This is an over-reaction to disruptions expected as a result of hurricane Ike. Here in southeast Texas the lines are there but it isn’t a run per se. We are or have evacuated. Regular is around $3.60 per gallon which is up about a dime since hurricanes Gustav and Hanna. This will settle down.
So much gas is refined here in Texas that markets are reacting.
This is not a panic - it is gouging fed by local gas stations who are blowing smoke up consumer’s behinds.
40-60 cent jumps here in Arkansas that I know about. Governor has declared state of emergency to combat price gouging.
Haven’t heard anything about long lines (and with the price jumps - probably won’t).
But the last I heard yesterday- gas supplies were 20 days. I would kind of see some shortages if the supply was down to a week or so... but not 20 days.
But this should be yet another clear sign of why we need MORE refinery capacity - via refineries spread around the country... so we don’t have this sort of insane panic when 16% of capacity is closed for a few days.