refineries

Nearly 4 million customers were without power and the electricity supply to refineries along the Gulf of Mexico was still limited Tuesday in the wake of Hurricane Ike.

A combined blow from Hurricanes Gustav and Ike has shut down almost all oil and natural gas production in the Gulf of Mexico and handicapped refinery operations in Texas and Louisiana.

Pump prices jumped above $5 per gallon in some parts of the country Sunday as Hurricane Ike, which caused less destruction than feared, left refineries and pipelines idled and destroyed at least 10 offshore petroleum platforms in the Gulf of Mexico.

Gasoline prices rose Saturday by an average of five cents a gallon across the country as the oil industry anticipated disruptions at several refineries along the Texas coast because of Hurricane Ike.

The price of oil dropped to a five-month low after Hurricane Gustav appeared to have spared refineries and supply chains.

President Bush put politics ahead of the facts Tuesday as he sought to blame Congress for high energy prices, saying foreign suppliers are pumping just about all the oil they can and accusing lawmakers of blocking new refineries.