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Refinery problems, spill drive up Great Lakes gas

Associated Press
August 3, 2012
Keywords
Fuel, Oil, Transportation, Distribution & Logistics
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A rare combination of troubles is driving up gas prices in the Great Lakes region.

GasBuddy.com petroleum analyst Patrick DeHaan said Friday that several Great Lakes states have seen prices surge about 40 cents per gallon in the last week. That follows a pipeline rupture and shutdown in Wisconsin and equipment problems at refineries in Indiana and Illinois.

Illinois has experienced the biggest price jump, from a statewide average of $3.61 a week ago to $4.05 on Friday.

DeHaan says the confluence of incidents is unusual and has created fears of a shortage that has spooked the gas market. But he says it typically takes only a week or so to make refinery repairs, and prices should begin to drop during the next few weeks.

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  • pipelines
    lawnjesusAugust 3, 2012 7:29 PM
    Not just one company feeds any certain pipeline, oil or gas. companies get paid by what they put into a pipeline after refining it in the case of gas. 5 or 6 other oil companies may feed that pipeline also. Refined gas is mixed from many sources and the detergents and additives are added when a tanker fills up on its way to the corner store. Simply put, its impossible to boycott any certain oil company, what they refine gets sold at any corner gas station.
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  • One down all gain
    BigOAugust 3, 2012 7:13 PM
    Why is it that one refinery has an issue but all the gas companies raise the prices right away and all the gas does not come from just one source. Bp vs Speedway vs Citgo. Why? I would like to see a different price a every gas supplier. Then I would trust they are for real.
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    • shortage? Really!
      tedAugust 3, 2012 3:32 PM
      Just in the past 24 hours, I have seen gas prices JUMP 90 cents! Who really thinks there is a shortage that justifies prices jumping 50-90 cents at one station, but across the street it stays the same!? Why do they continue to think we are stupid enough to believe their excuses. The media just needs to say...well the're at it again, bend over because you can't do anything about it!Get real.
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