Bush: Ike put 'pinch' on consumers

WASHINGTON (AP) -- President Bush is warning that consumers already struggling with the high price of gasoline will face a "pinch" because of Hurricane Ike's disruption of energy production.

Bush says the storm's toll on refineries and pipelines is creating what he calls "an upward pressure on price" for people at the gas pump. He added, though, that people should not be subjected to price gouging.

Retail gasoline prices have shot higher based on Ike's landfall in the Gulf region, which accounts for about 20 percent of the nation's petroleum refining capacity. Refineries, even if they were not damaged, may remain closed -- some because of a lack of power.

The president plans to visit Texas tomorrow to survey the damage and meet with emergency officials.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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