Local News

Midwest Gas Prices to Spike Next Week

FORT WAYNE, Ind. (WOWO): You should see a jump in the price at the pump next week.

Patrick DeHaan of GasBuddy.com says various refiners in the Midwest, including one in Indiana, are about to shut down for either maitenance or repairs, in some cases working on resolving unplanned issues:

“If I was paid every time I mentioned a refinery issue, I could have retired years ago. The fact of the matter is the nation’s refineries aren’t getting any younger. With falling gasoline demand, refiners tend to use these situations to perform maintenance. In some cases they’ve been working on resolving unplanned issues. Currently some of the region’s largest contributors to gasoline supply are seeing some of their capacity temporarily reduced as they carry out this work.”

As a result, the gas supply is going to drop, which will lead to prices going up. Prices are expected to stay up for the next several weeks, with the hopes that they'll fall around Thanksgiving.

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