Spike in local gas prices -- UPDATE

I've fielded multiple calls this morning from constituents irate at an overnight jump in gas prices here locally. Most are wanting to find out how to file consumer complaints for price gouging, as they believe local retailers are trying to take advantage of the influx of evacuees coming through.

Whether that has merit or whether retail prices are increasing because of speculation on the part of carriers and suppliers due to Hurricanes Ike and Gustav, they are expected to increase, at least for the short term. Light Crude is trading at $101 today, but wholesale prices are nearing $5 a gallon on the gulf coast. That's twice what gasoline futures were trading for on the New York Mercantile Exchange yesterday. Here's a link to local gas prices.

Update (1:00 p.m.): Governor declares state of emergency

Governor Beebe has declared a state of emergency in Arkansas because of gasoline-supply interruptions in relation to Hurricane Ike. Some pipelines that route gasoline to fuel wholesalers and gas stations in Arkansas have been shut down until Ike is no longer a threat to the Gulf Coast. As a result, some temporary increases in gas prices are expected during the next few days. However, Attorney General McDaniel has vowed to go after anyone who tries to profit illicitly from the situation through price gouging. Governor Beebe fully supports McDaniel’s efforts, and made this declaration to help the Attorney General’s Office pursue anyone who participates in gouging of any sort.

Update II: The governor's weekly radio address is about helping others through the storm: