They ought to call this storm Ike Turner. It's either going to lay a beatdown (with Houston standing in for Tina) or it's going to fall over drunk.
If you look at this analysis from a Hurricane expert (
http://www.wunderground.com/blog/JeffMasters/comment.html?entrynum=1080&tstamp=200809&page=2) even though it's in the middle of the Gulf, there is no consensus on how it will hit. One analysis says Cat 1, another Cat 4. That's a big discrepancy.
If it goes Cat 4 on it's current path, and the surge follows the analysis in the link, then gas prices will rise nationally, as national oil refining capacity will be adversely affected for a period of time.