As a result of Katrina, some fuel stations in the state of Georgia are charging over $5/gallon for petrol (see this Economist article).
Certainly there is some price gouging due to Katrina, but it is the tight supply situation that has enabled the gouging. Oil production has just barely been able to keep up with demand in recent months, and there is no room for disasters such as Katrina. The same article mentions that we are borrowing petrol from the Europeans' reserve (very nice of them I might add), because our country only stockpiles crude oil, and not petrol.
Tagged with blog, peak oil