Could Hurricane Michael cause spike in gas prices? : Hurricane Michael may be a monster of a storm, but it's unlikely to cause dramatic gasoline price spikes, energy experts said. Energy companies were evacuating platforms and rigs, and reducing operations for 42.3 percent of current oil production and 31.7 percent of natural gas production, as reported to the Bureau of Safety and Environmental Enforcement by midday Wednesday. Michael is the worst hurricane in over a century to hit the Florida Panhandle.