GAS PRICES SOAR, AS PREDICTED

With oil production shut down in the Gulf of Mexico as a result of Hurricane Katrina, gas prices have already taken a big jump within the past 48 hours.

CNN noted this afternoon that in the Atlanta area, unleaded self-service prices reached $3.55/gallon in some places, and one expert is saying $4.00/gallon is not out of the question soon. Meanwhile, President Bush's decision to authorize making petrol available from the nation's strategic reserves caused prices for sweet crude for October delivery to drop $1.10 a barrel on the New York Mercantile Exchange to $69.55/barrel.