UPDATE 9/11/08 7:24 p.m.: KNOXVILLE, Tenn. (WVLT) -- Weigel's stores owner Bill Weigel tells Volunteer TV News that the price his company pays for a gallon of gas went up $0.85 Thursday from prices earlier in the day.

Weigel says he's going to sleep on it, but his stores may have to increase prices at the pump by $0.85 to $1 by Friday.

He tells us he's not quite sure how to react, because he's never seen anything like this in the past, even during Hurricane Katrina.

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KNOXVILLE, Tenn. (WVLT) -- The gasoline supply in Knoxville is running low, and Hurricane Gustav, not Ike may be to blame.

Bill Weigel with Weigel's stores tells Volunteer TV News that the tanks that supply gas to Knoxville have been dry since Monday.

He says he is bringing gas into town from other cities, but he does have some stores that are out of gas.

A pilot vice president told the Knoxville News Sentinel that all Pilot stores have gas, and will continue to unless a shipment from the colonial pipeline doesn't arrive as expected early next week.

A news release from the pipeline says it's running at full capacity.

Pilot says their main concern is that a run on gas could cause a major shortage.

Early Thursday evening, Pilot released the following statement from Vice President of Supply and Distribution Alan Wright:

Pilot Corporation is taking steps in the short term to keep as much gasoline available to the Knoxville public as possible in the wake of supply impacts from Hurricane Gustav and the threat of Hurricane Ike.

For now, Pilot asks that their customers continue to fuel their vehicles as they normally would.