From Newsweek · · 1m 30s
Gas Price Warning for Great Lakes States
Great Lakes states face potential gas price spikes as refineries struggle.
In brief
Great Lakes states face potential gas price spikes as refineries struggle. Ohio risks largest gas price jump in Great Lakes region due to refinery issues and supply disruptions. Originally reported by Newsweek.
Gas price warning issued
Analysts warn of higher gas prices in Great Lakes states with Ohio at highest risk of price jumps.
“additional likelihood of further price increases in the Great Lakes”
Patrick De Haan's warning
Patrick De Haan, head of petroleum analysis at GasBuddy, warned of increased price risks in Great Lakes states.
“Ohio at "high" risk of facing the largest bump in the region”
State risk levels
Wisconsin and Indiana face medium risk of moderate price jumps while Michigan and Illinois face low to medium risk of exceeding $5 per gallon.
“low to medium risk of seeing gas prices go past the $5 per gallon threshold”
Diesel price impact
Michigan and Illinois likely to see moderate to large jumps in diesel prices alongside gas price increases.
“moderate to large jump in diesel prices”
Price increases overnight
All Great Lakes states saw overnight gas price hikes between Thursday and Friday with Ohio increasing by 2 cents.
“prices went up by 7 cents”
Refinery challenges
Exxon Mobil's Joliet refinery in Illinois remains offline due to power outage and floodwater issues.
“remained offline on Thursday following a power outage on Sunday”
Refinery capacity impact
Joliet refinery's 275,000 barrels per day capacity affects Midwest gasoline and diesel supply.
“275,000 barrels per day”
Cenovus maintenance
Ohio's Cenovus refinery plans major maintenance from September through mid-October.
“planned major maintenance work from September through mid-October”
BP Whiting labor dispute
BP Whiting refinery in Indiana faces labor dispute threatening future disruptions.
“unfolding labor dispute which threatens to cause future disruptions”
National price trends
National gas prices reached $4.47 average with California at $6.11 per gallon.
“$4.47 nationwide”
What it means
Ohio risks largest gas price jump in Great Lakes region due to refinery issues and supply disruptions.
