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June 1st marks the start of hurricane season. And experts are saying that gas prices could surge up to $6 per gallon if a hurricane hits in July. That's because a hurricane in the Gulf of Mexico, like Katrina or Rita, would disrupt refineries and pipelines in the southern U.S.

In fact, because of Katrina, gas prices today already have about 5 to 10 cents built into the price of gas by speculative traders. The NOAA are saying there is a 65% chance of a stronger-than-normal hurricane season, and only a 10% chance that it will be weaker.

On the other hand, they are saying that if we make it through hurricane season with no hits, gas prices could ease a bit. But, hurricane season isn't over until Nov. 30, so we have a long ways to go.


Source: CNN