CHICAGO (CBS) Though gasoline prices have been plummeting nationally, drivers within the Chicago area immediately have seen a significant bump at the pump.
Oil prices have reached lows not seen since the nice Recession, and the price of filling up across the nation is means down, so why are Chicago area drivers abruptly paying extra?
Patrick DeHaan, senior petroleum analyst at GasBuddy.com, stated it’s the result of an outage at the BP refinery in Whiting, Indiana.
“Talking a couple of plant now that’s running crippled, at less than half of capability; the biggest refinery in the Midwest,he mentioned.
One gas station proprietor in Lake County said he’s had to lift costs on the pump by 84 cents per gallon up to now three days, as his costs have surged.
WBBM 780’s Regine Schlesinger
The average value of a gallon of gas within the Chicago space started the day at $2.77, and by late Wednesday morning had risen to $2.87, based on GasBuddy.com. Analysts stated it may rise one other 20 cents by the top of the day, and 50 to 70 cents per gallon by subsequent week.
DeHaan mentioned the excellent news is, once the refinery situation is resolved, costs will drop again, with $2 per gallon doable in the fall.
“Once these refinery points are behind us, once the unit comes again online, a decline will come again to Chicago’s pumps, and we still could be talking about prices in the suburbs at $2 per gallon,he said.
It’s unknown when the Whiting refinery will likely be fully operational once more, so it’s unclear when costs will return down.
BP released an announcement saying, “On Saturday, Aug. 8, the Whiting Refinery in Indiana shut down the biggest of its three crude distillation models for unscheduled repair work. The shutdown was executed without incident and according to protocols.
In case you cherished this article and you wish to acquire more details with regards to petrochemical Companies i implore you to visit the site.