LI gas up 1.5 cents after storms hit

Gasoline rose by another 1.5 cents a gallon on Long Island in the past week as storms interrupted oil and gasoline production and shipping.

Experts expect only a little relief for motorists at the pumps in coming weeks with a switchover to cheaper winter-formula gasoline.

Regular gasoline averaged $3.982 a gallon in Nassau and Suffolk Wednesday, the AAA said -- $1.15 a gallon higher than a year earlier.

Meanwhile, heating oil rose by 3.5 cents at full-service dealers on Long Island in the week that ended Monday, the state said, to $3.995 a gallon.

Early last week, Irene interrupted operations at six East Coast refineries, including the Conoco Phillips facility in Linden, N.J., according to the U.S. Department of Energy. Then, Tropical Storm Lee, which came through Sunday, forced the shutdown of more than 60 percent of oil production in the Gulf of Mexico, the federal government said. ,Wednesday, concerns about another storm helped push oil and gasoline futures upward.

Analysts said traders Wednesday also were betting on increased demand for energy from economic stimulus measures expected to be announced Thursday night by President Barack Obama.

Experts still predict prices will decline. "Given all the volatility in the market, maybe we'll see a decline of five to 10 cents a gallon from where we are now," said Andy Lipow, president of Houston consulting company Lipow Oil Associates Llc.

U.S. benchmark crude oil settled Wednesday up $3.32 at $89.34 a barrel on the New York Mercantile Exchange. Earlier, European benchmark Brent oil settled at $112.99 in London trading.MasterCard Advisors' weekly SpendingPulse report, issued Wednesday, said American drivers purchased 4.1 percent less gasoline last week than a year earlier. With Bloomberg