Mellody Hobson: How Will Rita Affect Gas and Oil Prices?

Sept. 22, 2005 — -- Hurricane Katrina sent gas prices -- which were already very high -- soaring even higher. Now Hurricane Rita is bearing down on the beleaguered Gulf Coast. "Good Morning America" financial contributor Mellody Hobson talked about what that could mean for gas and oil prices.

Mellody Hobson, president of Ariel Capital Management (arielmutualfunds.com) in Chicago, is "Good Morning America's" personal finance expert. Matthew Yale and Aimee Z. Daley contributed to this report.