Experts Blaming Gas Price Spike on Refinery Problem

By: Josh Sidorowicz Email
By: Josh Sidorowicz Email

A petroleum analyst with GasBuddy.com tells News 10 the huge bump in gas prices in Mid-Michigan over the past 24 hours is due to an 'unknown refinery issue.'

The issue is only affecting states in the Great Lakes region which includes Indiana, Illinois, Ohio, Wisconsin and Michigan.

The average price for a gallon of gas in Lansing is currently hovering around $4.14, according to the GasBuddy website.

Patrick DeHaan with GasBuddy.com said while details are still hard to come by, word got out Friday that a refinery was forced to buy oil from other refineries after suffering a still unknown setback.

"When that happens, it tends to indicate that there may be a bigger problem with production and market traders become very concerned when production issues arise," Dehaan said.

Dehaan said this 'setback' comes on top of an industry that's already seen a tight supply of gasoline to start the summer season.

For local residents, the abrupt price jump is causing some pain at the pump.

"We have to transport kids to and from school each day," Dan Hayes said. "It's just getting really expensive to commute around town."

Nancy Minella commutes often to the Detroit area to see her family but said that could change if these prices continue.

"I don't know how families do it, I just don't know, it's ridiculous," she said. "My family is all down in Detroit so I go down there quite a bit and it's going to be kind of costly for me now."

Experts said to expect the current prices to stick around for at least another week.


WILX.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
WILX 500 American Road Lansing, MI 48911 517-393-0110
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 209846851 - wilx.com/a?a=209846851