Gas Prices to Rise as Hurricane Ida Shuts Down 95 Percent of Gulf’s Oil Production

A truck is seen in heavy winds and rain from Hurricane Ida in Bourg, La., on Aug. 29, 2021. Mark Felix/AFP via Getty Images

Hurricane Ida shut down more than 95 percent of the Gulf of Mexico’s oil production, said regulators, suggesting the Category 4 storm will have a significant impact on energy supply and gas prices.

The federal Bureau of Safety and Environmental Enforcement confirmed the stop in oil production, with firms suspending 1.74 million barrels per day in oil production in the Gulf.