[Southsider2k12]

http://www.suntimes.com/business/14135396-420/story.html

A fire at a Northwest Indiana oil refinery and a pipeline leak in Wisconsin helped push up gasoline prices for Chicago motorists, but prices over the long term could be more affected by what happens in Washington and Europe.

Prices are nine cents higher than they were a week ago, and now average $4.01 a gallon in the city.

“We got double-whacked over the weekend,” energy analyst Phil Flynn said Tuesday. “The energy gods are unhappy with Chicago. We can’t get a break.”

The BP refinery in Whiting, Ind., shut down a coker unit that produces raw coke used in fuel after the brief fire, and media reports said the unit might take four weeks to repair. A BP spokesman declined comment Tuesday on the duration, saying it was just one of dozens of processing facilities at the refinery and indicating the malfunction was no different than any other equipment breakdown.

In the Wisconsin spill, Enbridge Inc. said repairs to its ruptured pipeline were expected to be completed Tuesday, though regulators stopped the pipeline’s reopening. The accident caused a production slowdown at Citgo Petroleum Corp.’s refinery in Lemont.

[Southsider2k12]

Sounds like a gas price spike is underway in City... led by? BP. If you see a price in the $3.60's or $3.70's, fill up, because they are heading up to the $3.95 to $3.99 range.

[Southsider2k12]

Gas futures are spiking because of Isaac moving into the oil rich sections of the gulf. I would advise everyone to fill up their tanks ASAP!

[Southsider2k12]

Fill up your tanks ASAP. I'd be willing to bet we see a jump to something like $4.29 or more in the next couple of days.

FromGasBuddy
BREAKING: Pipeline closure in Great Lakes sending wholesale gasoline prices up over 20c/gal. Gulf region up 17c/gal due to Isaac.

[Southsider2k12]

FromGasBuddy
Recap: wholesale gasoline prices rose the most today in the Great Lakes (NOT the Gulf! Gasp!) Great Lakes motorists- be ready for jumps of 15-35c/gal in next 48 hours in MI, IN, OH, possibly KY, IL, WI, MO. Gulf areas- be ready for 5-20c/gal in next 96 hours. East Coast, be ready for 5-20c/gal in next 96 hours. Everyone will likely see gas prices rising by Labor Day Weekend. Lousy!

[Southsider2k12]

Here is the spike we warned you about yesterday. Pay attention to the damage to the gulf oil production and refining capabilities, as that could lead to a secondary spike.


FromGasBuddy
We're up bright and early firing up the e-mail alert machine! Due to the situation, we're only sending alerts to those who will see the BIGGEST hikes. But everyone should be aware prices will be rising! MI, IN, OH, KY could see near or over $4/gal today as a result of a massive spike in wholesale prices yesterday! Share this and warn your friends!

[Southsider2k12]

GasBuddy

If you live in the Great Lakes, don't be filling up completely unless you spy gasoline under $3.30- you have some big decreases in the upcoming days!

[Southsider2k12]

GasBuddy

If you live in the Great Lakes, don't be filling up completely unless you spy gasoline under $3.30- you have some big decreases in the upcoming days!

Gasbuddy put a a chart on the spot wholesale prices of gas by region. The Chicago area was in the $2.30 range. If you add back taxes, that means that gas could be going to $3 pretty soon if prices hold here.

[Southsider2k12]

GasBuddy
MI, IN, OH, KY, WI, IL- GAS ALERT gasoline prices are likely to rise by early next week (likely Monday) as wholesale prices are up 18c/gal in the last two days. We're giving you a big heads up!

[Southsider2k12]

Gas prices have settled in locally at just under $3.20. While we are about 10 cents a gallon cheaper than most of the surrounding areas, we are right in equilibrium with where futures prices on right now.

[Southsider2k12]

Gas prices have settled in locally at just under $3.20. While we are about 10 cents a gallon cheaper than most of the surrounding areas, we are right in equilibrium with where futures prices on right now.

Evidently, I am a jinx.

Status Update
By GasBuddy
Price hike in the Great Lakes today! Heads up! It's already starting in some areas. MI, OH, IN, WI, IL, WV.

[JHeath]

Evidently, I am a jinx.

Status Update
By GasBuddy
Price hike in the Great Lakes today! Heads up! It's already starting in some areas. MI, OH, IN, WI, IL, WV.

What was the reason this time around?

[Ang]

The election is my guess

[Southsider2k12]

What was the reason this time around?

There was a wholesale spike, possibly due to refining losses after the hurricane.

[Southsider2k12]

From GasBuddy----
MI/IN/OH/KY/IL/WI Price hike: prices rising today to $3.69 in Michigan, $3.59 in Indiana, Ohio, $3.55 in Kentucky, unknown in WI/IL.

[Southsider2k12]

We have seen some big drops locally, since the spike last week. Though the best prices are all off of Franklin Street.

http://blog.gasbuddy.com/posts/National-av...21406-1499.aspx

Americans continue to see relief at the pump in the weeks ahead of the Christmas holiday. The national average declined another five cents per gallon in the last seven days, falling to an average $3.34/gal. The decline has also narrowed the gap between what Americans paid in the run up to Christmas 2011, with prices today just a nickle higher than a year ago.

Four U.S. states already have gasoline prices under their December 25, 2011 average: Alaska, Hawaii, Minnesota, and Oregon. Alaska is an astonishing 47c/gal lower than just a year ago on this date, while the other areas are just pennies lower.

While those four states will likely not be seeing their highest ever Christmas Day prices, several states appear ripe for records- highest ever Christmas Day prices: New York, New Jersey, Idaho, Utah, and Vermont, where prices are currently running an average of 29c/gal higher than last Christmas. With Christmas just about two weeks away, it is likely these states break records.

Around the rest of the country, other states that may come close to setting records: Wyoming, Rhode Island, Pennsylvania, New Mexico, New Hampshire, Massachusetts, Maine, Connecticut, and Delaware. Why so many states in the East, you ask? Likely due to their low levels of gasoline available in inventories. Things have been tight there, a year after refineries closed and were offered for sale. The situation may slowly return to normal over the next year, but don't expect an overnight improvement.

"The national average has continued to see a steady decline over the last week, and that trend will likely continue through this week at the very least," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Last week, the Energy Information Administration reported one of the largest single week increases in gasoline inventories in my recent memory, which will likely contribute downward pressure to wholesale gasoline prices in the days and perhaps weeks ahead," DeHaan said.
Read more at http://blog.gasbuddy.com/posts/National-av...PB8eooZeDW4c.99

[JHeath]

We have seen some big drops locally, since the spike last week. Though the best prices are all off of Franklin Street.

http://blog.gasbuddy.com/posts/National-av...21406-1499.aspx

Best price in MC is usually at the Family Express at the intersection of Johnson Road and Hwy 20.

[Southsider2k12]

Gas prices are really crashing both locally, and around town. After the price hike last week to $3.55, Prices have fallen as low as $3.13 in town, and under $3.10 in some other towns in the area. This is probably due to the record inventory levels that were announced in the last couple of weeks, as the futures haven't gone down nearly as much as wholesale prices.

I wouldn't be shocked to see prices rebound to the $3.30 level in a couple of weeks unless futures prices start to drop as well. But for now, enjoy!

[Southsider2k12]

I just filled up on north Franklin for $2.98 a gallon. Gas buddy has already put out a price increase alert, so I am guessing the spike is coming tomorrow.

[Southsider2k12]

Gas spiking to $3.39 today.