Sticker shock at Houston gas pumps

February 23, 2011 4:50:12 PM PST
Drivers are feeling sticker shock at the pump as the ripple effects of the Libyan riots are being reflected in higher gasoline prices.

At one gas station in southwest Houston, prices have gone up twice in 24 hours. A third jump is expected this evening.

All this comes as offshore drilling has been drastically curtailed in the Gulf of Mexico following the BP oil disaster. As many as 350,000 barrels of oil per day are said to have been cut because of tighter permitting requirements.

Oil prices are expected to continue their climb because of the Middle East tensions, plus refineries typically undergo maintenance in the spring.

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