Gas Price Warning Issued for Great Lakes States
Refinery challenges and global supply disruptions would come together to bring further gas price hikes, analysts say.
Gas prices could soar in the Great Lakes region, with Ohio potentially facing the biggest surge, according to experts. Patrick De Haan, a senior analyst at GasBuddy, warned of a "likelihood of further price increases in the Great Lakes" on Thursday night, with Ohio at "high" risk, Wisconsin and Indiana at "medium" risk, and Michigan and Illinois at "low to medium" risk.
These states may see gas prices surpass $5 per gallon, while diesel prices are expected to jump moderately to large amounts. Analysts expect these hikes to occur in the coming hours, as stations and retailers adjust their prices. Gas prices nationwide have risen from $2.98 on February 28 to an average of $4.47 as of Friday morning, driven by disruptions to global oil supplies due to the Iran war and the closure of the Strait of Hormuz.
The latest price increases in Illinois, Wisconsin, and Indiana have been elevated to "elevated" risk level. The Joliet refinery in Illinois, a key fuel supplier for the Midwest, is offline due to floodwater, while BP Whiting in Indiana is dealing with a labor dispute.
Written by urgent.news from Newsweek's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
