Why gas prices rocketed up in these 5 states overnight, and who could be impacted next
Key takeaways
- Across states in the Great Lakes region, the average prices per gallon have jumped well above $4.
- De Haan warned on Tuesday that those five states could see fuel prices rocket up amid continued refinery challenges in the region.
- De Haan told the Milwaukee Journal Sentinel that a pretty noticeable rise in price was expected to be apparent before the weekend, and that the Iran situation also still plays into pump prices.
Why this matters: political developments that affect policy direction and public trust.
Across states in the Great Lakes region, the average prices per gallon have jumped well above $4. That includes Michigan, Indiana, Ohio, and Wisconsin, which have generally remained below the $4-a-gallon benchmark since conflict broke out in the Middle East last month. In Illinois, the statewide average is within one cent of $5 as of Wednesday afternoon, Patrick De Haan, head of petroleum analysis at GasBuddy, reported.
De Haan warned on Tuesday that those five states could see fuel prices rocket up amid continued refinery challenges in the region. BP s Whiting Refinery, which is also experiencing a labor dispute, suffered an outage on Monday, according to local reports. Spring is also a time when refineries undergo maintenance, which can impact supply.
De Haan told the Milwaukee Journal Sentinel that a pretty noticeable rise in price was expected to be apparent before the weekend, and that the Iran situation also still plays into pump prices.