08-13-2015, 08:38 AM
(This post was last modified: 08-13-2015, 09:14 AM by dmcowen674.)
Went up another 30 cents today now over $3 again.
Indiana refinery woes may hike gas prices by 30 cents-$1
Forecasted low gas prices at Christmas also in jeopardy.
BP's refinery in Whiting is having problems with its largest crude distillation unit, which handles more than half of the facility's capacity, according to Patrick DeHaan, senior petroleum analyst with GasBuddy.com.
The refinery is the seventh largest in the U.S. and biggest in the Midwest, according to the U.S. Energy Information Administration's website. Its operable capacity is 413,500 barrels per calendar day.
"This is going to be a shock in the market." he told the Free Press. "Depending on how bad this is, we could see a dollar rise within two weeks. .... What we're looking at is a disruption in the supply and unfortunately, the consumer would pay at the pump."
Three weeks ago, motorists in 20 states, including Michigan, were elated by GasBuddy.com's forecast that gas prices would be at $1.99 or below by Christmastime, but the Whiting refinery woes might turn out to be a mid-summer grinch.
"This definitely puts a kink in it," Flynn said. "I believe crude oil prices are at a low, but throw in the Whiting refinery issue and it's unfortunate."
Indiana refinery woes may hike gas prices by 30 cents-$1
Forecasted low gas prices at Christmas also in jeopardy.
BP's refinery in Whiting is having problems with its largest crude distillation unit, which handles more than half of the facility's capacity, according to Patrick DeHaan, senior petroleum analyst with GasBuddy.com.
The refinery is the seventh largest in the U.S. and biggest in the Midwest, according to the U.S. Energy Information Administration's website. Its operable capacity is 413,500 barrels per calendar day.
"This is going to be a shock in the market." he told the Free Press. "Depending on how bad this is, we could see a dollar rise within two weeks. .... What we're looking at is a disruption in the supply and unfortunately, the consumer would pay at the pump."
Three weeks ago, motorists in 20 states, including Michigan, were elated by GasBuddy.com's forecast that gas prices would be at $1.99 or below by Christmastime, but the Whiting refinery woes might turn out to be a mid-summer grinch.
"This definitely puts a kink in it," Flynn said. "I believe crude oil prices are at a low, but throw in the Whiting refinery issue and it's unfortunate."