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Now that Hurricane Gustav has made it through Cuba, and entered the Gulf of Mexico as a strong Category 3 storm – with sustained winds of 120 mph – it’s high time that you go out and fill up your car, truck or SUV.

Based on the current projected storm path, Gustav will very likely make landfall somewhere between Galveston, Texas and Gulfport, Mississippi. In terms of gas prices, this is important because this area of the Gulf Coast is home to many of the region’s oil refineries. These facilities account for nearly 40% of the United States’ refining capacity.

Keep in mind, when Hurricane Katrina made landfall in the Gulf Coast region, it did so as a Category 3 storm. Should Gustav do as many forecasters are predicting and strengthen to a Category 4 before making landfall – meaning it would have sustained winds between 131 and 155 mph – chances are good that we could see even more damage to oil production facilities and refineries than what we did back in 2005. This certainly does not bode well for prices at the pump.

In the days following Hurricane Katrina’s landfall, the national average price for a gallon of gasoline shot up by nearly 20 percent, and climbing above $3 for the first time ever. Should oil production facilities and refineries suffer similar damage from Hurricane Gustav, the price of gasoline would easily jump back above $4 per gallon, and would very likely shatter the record high prices set back in mid-July.

And, in the worst case scenario, where damage is even more catastrophic, we could see the national average gas price climb above $5. This would certainly have profound economic consequences, with many Americans already having a tough time with soaring food and energy costs.

See why it’s so important to go fill up now?

So, let’s hope for everyone’s sake – for those who live and work in the storm’s path, and for the rest of us who will be dealing with the fallout – that Gustav weakens over the Gulf’s open waters, and somehow does far less damage than what’s currently anticipated. In the meantime, to hedge your bets, go fill up your car now.