You knew it was too good to last. Gas prices are expected to rise sharply in the next few days after a Midwest refinery ran into problems.
Patrick DeHaan is a Senior Petroleum Analyst from the gas watchdog website Gasbuddy.com. He says a problem arose in Indiana...
"....the region's largest refinery, the BP Refinery in Whiting, Indiana went down unexpectedly on Saturday, one of its largest units shut down. That unit close to half the capacity of that refinery. It may be shut down for a week or two....."
DeHaan says markets get nervous when glitches like this occur. He thinks we will see gas prices rise 15 to 30 cents within the next few days. He says the wholesale petroleum price rose sharply this week. He says the public consumes much of the gas produced at these plants within a few days, so supply should tighten until production resumes by later this month.
