With Hurricane Ike headed for the Texas coast late Friday or early Saturday morning, the energy industry in the region is preparing to face the storm's wrath.

Oil rigs and platforms in the Gulf of Mexico and along the Texas coast, particularly in Galveston, which is dead-center in the storm's path, have evacuated personnel and prepped the equipment for high winds and water.

The Minerals Management Service reports that 562 of the 717 manned production platforms in the Gulf of Mexico and 93 of the 121 rigs have been evacuated, with the removal of personnel underway at the remaining facilities.

There are 26 refineries in Texas that together process just under 4.8 billion barrels of crude a day, which accounts for a quarter of the national refining capacity according to the Department of Energy. The bulk of the Texas refineries are located in Houston, Port Arthur, and Corpus Christi.

In response to the threat of the storm nationwide, gas prices moved up slightly from $3.671 to $4.675 according to figures compiled by AAA, but regional prices have shifted more dramatically. In Houston, the average per gallon price escalated 4 cents.

Forecasters are predicting that Hurricane Ike will hit the coast as a Category 3 storm with winds in excess of 100 mph and a potential storm surge of up to 20 feet.