Prudhoe Repairs and Less Oil Supply

As everyone knows, oil supplies around the world are tight. The Oil Drum reports a drop in American oil supplies due to repairs at Prudhoe in Alaska:

Because of severe corrosion in one of the pipelines, BP is temporarily closing the production from the Prudhoe Bay oilfield, and, in the process, cutting off some 400,000 barrels of oil a day, some 8% of US production. The NYT story suggests that this might raise prices by as much as $10 a barrel.

Living on the west coast, I immediately have to ask how much that's going to affect our gasoline prices? Keep in mind that the oil from Prudhoe Bay has probably been set at a fixed price well below $75/barrel. In the meantime, other than foolish wars that make absolutely no sense, Bush continues to have no energy policy worthy of the name. Did I mention he's on vacation?