SOUTH BEND — Industry analysts are predicting a major jump at gas pumps across the country over the next few days as Hurricane Ike bears down on the Gulf Coast.

By Friday night, Ike had grown nearly as big as Texas as it continued to head toward the Gulf Coast. The Category 2 storm is threatening to wipe out waterfront towns, and authorities say 90,000 people have decided to stay put, despite warnings that many would face certain death.

Ike is expected to make landfall early Saturday morning near Galveston, then move to Houston.

News of the hurricane's latest forecast path sent wholesale gas prices skyrocketing Friday, and many analysts now say that same price hike could hit gas pumps as early at this weekend.

By late Friday, prices were already up at some local stations, but only by a few cents.

According to AAA, the average price for a gallon of regular unleaded in South Bend was $3.89. That's up 2 cents from Thursday.

Indiana's current average price per gallon is $3.87. That's the fourth highest price in the country.

Michigan's current average price per gallon is $3.88. That's the third highest price in the country.

Only Illinois, Hawaii and Alaska's average prices are higher.

On top of that, wholesale gasoline prices in the Midwest spiked by an average of 87 cents on Friday, and analysts say it won't be long before that increase is passed on to consumers.

At South Bend gas pumps Friday night, the phrases were already starting to sound familiar.

"It's ridiculous," said Hannah Haas of South Bend, referring to her fill up at $3.96 a gallon.

"It's very discouraging," agreed Brenda Parks of Niles, who paid $3.99 a gallon to fill up her Trail Blazer. "I hardly know what to do."

"It's just totally wrong," said an exasperated Paul Schmidt of South Bend.

But were those drivers getting a bargain? Most said it didn't feel like it.

"I'm not getting a bargain, no," laughed Pedro Rodriguez of South Bend.

But industry analysts say that will change soon.

"If you get an 87 or 90 cent increase in one day, you've got to pretty much put that on the street immediately, or you're going to be losing a lot of money," said Atlas Oil Executive Vice President Mike Evans.

Atlas deals in wholesale oil purchases for the Midwest market.

With Ike more than a thousand miles away from South Bend, why is there a "hurricane hike" here?

"It's supply and demand," said Notre Dame Economics Professor Thomas Gresik. "We've got a huge reduction in supply. And when that happens, price is going to spike."

Oil platforms and refineries in the gulf provide up to 60% of the gasoline used across the Midwest.

By Friday night, 97% of them had been shut down. Some hadn't opened at all following Hurricane Gustav, meaning a lower than normal amount of gasoline was already running through pipelines.

That sudden drop in supply led to price spikes of over $1 per gallon at the pump in just one day at some stations around the country.

Wholesale gasoline prices spike by $1.13 in South Carolina Friday, prompting some stations to raise their prices to nearly $6.00 a gallon by the end of the day.

Experts say it could happen here, too.

"When a wholesaler tells you that, I believe them," said Gresik. "They deal with these prices every day. A jump of one dollar, I think is entirely within the realm of likelihood."

"It's not out of the question at all," agreed Evans. "I think you'll absolutely see it happen."

Drivers WSBT spoke with Friday wondered if there was something else behind the predicted jumps: price gouging.

"I think it's all a big scam," said Schmidt.

Gresik says it's possible.

But in most cases, there are many other factors to consider.

"The fact is, that price going up a lot is not price gouging. What you're looking for with price gouging is evidence of prices going up more than market conditions would suggest," he said.

What has happened at some stations across the country for certain, though, are long lines and pumps on empty.

"Shortages are a real possibility if you see major damage," Gresik said. "But, if there's minimal damage to the refineries, pipelines and drilling platforms, we're going to see prices drop almost as fast as it went up."

Both Indiana and Michigan's attorneys general vowed Friday to act quickly to stop any potential price gouging.

Their bigger message to consumers was not to panic. So far, there are only a few reports of long lines in either state, and no reports of any shortages.