CNNMoney.com
Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Subscribe to Real Money Newsletter Subscribe to Money Magazine Money Magazine Real Estate Taxes Jobs Ask the Expert Money 101 Autos Mutual Funds The Help Desk Loan Center Best Places to Live Subscribe to Money Magazine Ask the Expert Ultimate Guide to Retirement Retirement Calculators Rules of Retirement Best Funds Best Places to Retire Fortune Brainstorm Tech Apple 2.0 Blog Big Tech Blog Sectors and Stocks Tech Talk Questions & Answers Innovation Nation Small Business Video 50 Best Places to Launch Resource Guide Next Little Thing Subscribe to Fortune Magazine Fortune 500 Brainstorm Tech Investing Management Executive Interviews Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts
Gas prices hold steady after BP shutdown
Average price for regular unleaded remains just above $3 despite huge Alaska production cut on Sunday evening.

NEW YORK (CNN) -- Gas prices at the pump held steady after BP announced it was shutting down a major oil operation in Alaska due to a corroded pipeline, AAA reported Tuesday.

The average price for regular unleaded was $3.036 per gallon at the end of the day Monday, unchanged from Sunday.

gas_pump.03.gif

BP broke the news Sunday evening that it was closing its Prudhoe Bay oil operation - cutting production by 400,000 barrels a day or 8 percent of U.S. domestic production - after finding "unexpectedly severe corrosion" on one line and a small oil spill.

Crude oil prices began inching up as soon as the announcement was made, and analysts predicted consumers could expect an increase in gas prices at the pump.

But those prices aren't what worries consumers most, according to a CNN poll conducted by Opinion Research Corporation before the BP announcement was made.

In a survey among 1,047 adult Americans conducted Aug. 2 and 3, 52 percent of those asked said long lines and rationing at gas pumps worries them more than higher gas prices.

Thirty-seven percent said higher gas prices are more worrisome than shortages.

Nearly two-thirds of those questioned said higher gas prices have already caused a hardship for their family, while 34 percent said they hadn't.

The AAA record for regular unleaded is $3.057, which was recorded Sept. 5, 2005, seven days after Hurricane Katrina blasted the Gulf coast and disrupted refinery production and distribution.

Although the BP pipeline transported 8 percent of the domestic oil production, it provided only about 2.5 percent of U.S. oil supplies, most of which are imported.


Oil's aging pipelines

Oil eases after Monday's surge Top of page

YOUR E-MAIL ALERTS
Follow the news that matters to you. Create your own alert to be notified on topics you're interested in.

Or, visit Popular Alerts for suggestions.
Manage alerts | What is this?
© 2010 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Advertising Practices.
Copyright © 2010 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.