Huh?
Posted on 08/12/2015 10:43:45 AM PDT by afraidfortherepublic
If you are near a gas station in metro Milwaukee, you might want to stop and fill up.
Right now.
As oil prices have hit their lowest price in 6 years this week, gasoline prices in Milwaukee are soaring.
Wholesale gasoline prices are now higher than retail prices in the upper Midwest and that means prices at the pump will jump in coming days.
"It's going to be very ugly," said Patrick DeHaan, senior petroleum analyst at gasbuddy.com.
The wholesale price of gasoline has risen 90 cents since Monday.
As of Wednesday morning, the wholesale price was higher than retail, DeHaan said. That means prices at retail are likely to jump significantly in coming days, with prices in Milwaukee possibly topping $3 a gallon in coming days, he said.
An outage at a refinery in Indiana that turns crude oil into gasoline is to blame, market watchers say.
Leaking tubes on a piece of equipment forced BP to shut the largest crude unit at its Whiting, Ind., refinery near Chicago over the weekend, according to a person familiar with operations there. It could be down for at least a month.
The shutdown of the most important unit in the biggest plant in the Midwest has disrupted markets throughout the region.
Refineries in the U.S. were already running at 100% of capacity as demand for gasoline has continued to skyrocket.
(Excerpt) Read more at jsonline.com ...
Gas prices skyrocketing in Milwaukee due to refinery problem
FReep Mail me if you want on, or off, this Wisconsin interest ping list.
Will they have any place to store all the crude that’s not being processed? It seems to be in abundance.
Still cheaper than what we pay every day in California.
Yes but you’re offsetting all the coal burned in China via state Cap N Tax.....
As of Wednesday morning, the wholesale price was higher than retail, DeHaan said. That means prices at retail are likely to jump significantly in coming days”
Really??!
Airforce #1 Grounded until resolved. Demand it.
I think so, might see some increased movement, rail and the like.
With the sort of retail price differential that they’re hinting at, I’d think some of the larger retailers of gasoline will divert tanker trucks to the upper midwest for a quick profit, blunting the hit that the upper midwest takes to an extent, and spreading it to other parts of the country to an extent.
We intend to fry in the heat and live in the dark so that we can claim the moral high ground among our fellow Earth-worshippers.
Huh?
More Socialists are going to get elected pushing the conspiracy theory that oil companies are deliberately causing these refinery outages to spike profits.
Eh, big whoop welcome to life in California.
I believe the problem is that the EPA has mandate custom formulations for different areas in the country in order to fight what The EPA has claimed to be local air pollution conditions. This results in a condition where what is permissible for sale and use in one area is not permissible in another. These “boutique” blend requirements can cause local shortages and price increases in what appears to be a glutted market.
This refinery has to be one of the worst-maintained facilities in the country. Didn’t we get a similar story a couple of years ago that gouged Midwesterers for a few months at the height of the summer driving season? Seems oddly coincidental ...
I’m several hundred miles away in Tulsa and the dominant retailer in the area chose to tack on 12 cents at the pump overnight on this news. New price is 2.299, still not bad. Down the turnpike 90 miles in OKC, some stations are selling at 1.999.
Not just once. This seems to be an annual event, timed right when the Summer Price is at it lowest every year.
Mr. Burns sends out Homer to inspect the pipes...with a blow torch and chisel.
Same in Ohio. Same refinery.
Paid $2.749/gal for 87 octane at Sam’s Club in Roseville, CA yesterday and that’s just after $3.039 a few days ago.
In the old days when I was a child, they refined petro products in the shadow of downtown Cleveland...good old Standard of Ohio.
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