Sept. 8 (Bloomberg) -- Wholesale gasoline along the Gulf Coast jumped more than 12 percent today, the biggest increase in almost three years, as Hurricane Ike approached the region responsible for 48 percent of U.S. refining capacity.

Gasoline for sale at Gulf Coast terminals rose 36.3 cents to $3.30 a gallon at 3:50 p.m., according to data compiled by Bloomberg. It was the largest one-day increase since Sept. 27, 2005, when Hurricane Rita slammed into coastal refineries, triggering an 18 percent surge in the price for the fuel.

About 60 percent of Gulf Coast refining capacity remained shut or operating at reduced rates today, one week after Hurricane Gustav knocked down power lines and crippled crude-oil delivery routes, the U.S. Energy Department said. Exxon Mobil Corp., the world's largest gasoline maker, said it shipped fuel from other parts of the U.S. to gulf states today.

Gasoline rose because of lingering closures associated with Gustav ``and now the potential that Ike is going to shut down refiners,'' said Andy Lipow, president of Houston-based Lipow Oil Associates LLC.

Four oil-processing plants were idle as of 10 a.m. Eastern time and 14 were in the process or restarting output or operating at below-normal rates, the department said today.

Irving, Texas-based Exxon Mobil said it has been transferring fuel stored at its Baton Rouge, Louisiana, refinery and other locations to areas experiencing shortages. Since Sept. 5, the company shipped 4.6 million gallons of fuel to filling stations in storm-ravaged regions, Exxon Mobil said in an advisory on its Web site.

Ike is expected to reach the coast of Texas or Louisiana in about five days. The storm was 80 miles (130 kilometers) west of Camaguey, Cuba, at 2 p.m., with 100 mile-an-hour winds, the U.S. National Hurricane Center said in an advisory on its Web site.

To contact the reporter on this story: Joe Carroll in Chicago at jcarroll8@bloomberg.net

Last Updated: September 8, 2008 16:41 EDT