Pump prices on the rise, yet again

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Image by IADE-Michoko from Pixabay

Gas prices are going up this week. Some stations are seeing increases as early as today across Indiana and the Great Lakes Region, says GasBuddy.

Gas prices had been going down for 14 straight weeks, but now there are various issues causing the price change.

“I don’t know that I’ve ever seen a wider gamut of price behaviors coast to coast in my career. A slew of unexpected refinery disruptions, including fires and routine maintenance, have seemingly all happened in a short span of time, causing wholesale gas prices to spike in areas of the West Coast, Great Lakes and Plains states – and some of those areas could see prices spike another 25-75 cents per gallon or more until issues are worked out,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

DeHaan says further disruptions are likely coming because of Hurricane Ian.

“As a precaution, GasBuddy has activated its Fuel Availability Tracker for motorists in Florida, Georgia, Alabama and South Carolina. Hopefully, disruptions will be very limited due to Ian, but there remain many factors driving prices both up and down across the country,” said DeHaan.

Oil and gas analyst Trilby Lundberg agrees with DeHaan.

“There were several refinery glitches along with the planned maintenance. That curtailed supply. That is going to affect what dealers have to charge on the street,” said Lundberg.

As of Monday morning, GasBuddy says the average price for gas across Indiana was $3.84. That is up more than 10 cents from where it was last Monday. The average price in the South Bend area was $3.89 according to AAA.

 

1 COMMENT

  1. All this in spite of Brandon releasing our national petroleum reserves for his own personal political gain… Wait until Congress decides to refill those reserves and watch the prices jump! That’s supposed to happen at $80/barrel, despite the Dems blocking it when Trump wanted to do it at $25/barrel, blocking it for no reason other than partisanship. They didn’t want to give Trump a “win”, but somehow they claim to be the adults in the room…

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