One of the country’s largest refineries experiences difficulties, causing large fuel price increases in the Midwest.
A number of states in the Midwest have experienced a recent spike in gasoline prices. The price spike is being attributed to one of the country’s largest oil refineries as it has experienced difficulties with its largest crude distillation unit.
According to a report by the Star Tribune, all fingers are pointing to BP’s Whiting, Ind. refinery. It was reported that the distillation unit that was experiencing difficulties handles more than half of the facility’s capacity. Not only is this refinery the seventh largest in the U.S., but it is also the largest in the Midwest, which explains why Midwestern states have experienced some major price increases in the past week.
While the Minneapolis area experienced a 30-40-cent jump, bringing fuel prices to $2.79 per gallon, other areas, such as Michigan, were hit harder, experiencing prices of $2.91 per gallon or higher. The prices in both of these areas are quite a bit higher than the national average of $2.58.
However, as the problem is resolved, gas prices are expected to fall once again. As a matter of fact, gas prices in the Minneapolis/St. Paul area began to fall on Friday, with the lowest recorded price being $2.44 per gallon, and the highest was $2.89.