Oil hits new record near $71 after Katrina
Aug 30 11:39 AM US/Eastern
By Janet McBride
LONDON (Reuters) - Oil thundered to a new high near $71 on Tuesday as oil firms assessed damage wrought by Hurricane Katrina's rampage through the Gulf of Mexico, where most oil and gas output was at a standstill and refineries were shut.
Yes, here in the Golden State, we are definitely feeling the pinch in our pocketbooks. Like most people though that drive, my husband and I need our cars, we will have to pay it. Down the street from where we live, I saw the gas price yesterday morning at $2.67 and then on my way home it had jumped to $2.73. Prices are just going to continue to climb.
Also because of Katrina, I need to send my well wishes out to those people over in the south and especially to my dear friend, his family is over there. They don't know about their home yet and are told that they can't even go back for a few days.