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Friday, May 24, 2013 | 5:36 a.m.

Updated: 7:34 a.m. Monday, Aug. 29, 2005 | Posted: 8:16 p.m. Sunday, Aug. 28, 2005

Oil Hits $70 Per Barrel

August 28, 2005 —

Oil rigs in the Gulf of Mexico are in jeopardy because of Hurricane Katrina.

It's something that could affect all of us at the pump.

Prices could increase to the $3 dollar mark if the oil rigs have been hit hard by the hurricane.

Officials say they control a third of the U.S. oil supply.

Monday morning, prices surged above $70 a barrel.

Many El Pasoans tell KFOX they fueled up early, because they realized the seriousness of Katrina.

Eric Robles from East El Paso says, "It's going to be a sad situation for a lot of people. Gas prices are really high right now. I feel more for the people who are having to endure this."

Some people say they're not looking forward to this winter.

But in the words of East El Pasoan Ken Pearsall, "Gotta keep warm, don't like it but what do you do?"

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