Gas Prices Expected To Rise As Memorial Day Nears

CHICAGO (CBS) — Motorists in Illinois, Wisconsin, Indiana, Ohio and Michigan should be aware of the likelihood of rising gas prices in the next 48 hours and through the weekend in Chicago.

Petroleum Analyst Patrick DeHaan of says as the Memorial Day weekend approaches, gas prices in the Great Lakes area will likely go up.

“This time around, it was looking like prices would drop for the holiday but that all changed on Monday,” said DeHaan.

DeHaan says that’s because of production problems at ExxonMobil’s Joliet refinery.

“When ExxonMobil said they were having problems at one of their Chicagoland facilities, we can expect prices to go up, perhaps significantly as we approach the Memorial Day weekend,” said DeHaan.

ExxonMobil’s refinery in Joliet can process up to 238,000 barrels of oil a day.

DeHaan says prices could rise anywhere between 10 and 35 cents but predicts the increase will be temporary. He says prices in Chicago will likely remain around the four-dollar mark throughout the summer.

Will rising gas prices affect motorists travel plans? DeHaan says probably not.

“We find that most people have already made their plans, they’ve gotten the boat out, the RV out,” he said. “They are more likely to cut back on expenses like food and lodging than change their plans because of high gas prices.”

DeHaan says that prices outside the Great Lakes would likely continue to slowly fall. Wholesale prices in other regions have only risen a few cents compared with the near 40-cent increase in wholesale prices in the Great Lakes states.

  • bnt814

    the global elite have an excuse for every thing to make a profit off gas.

  • Bob

    Gas prices just up for the holiday weekend for some easy gouging. All good all good.

  • just saying

    Usually the prices go up on the memorial day weekend starting Friday @ 5PM until Monday night when no one is around to police it

  • Eddie Murphy

    This is baloney … stupid sausage

  • Roberta Waker

    Production problems my A$$$. I know people that work there and there are NO production problems. They just want to rape the people one more time for Memorial Day when a lot of people travel. PERIOD. When are we going to take away their tax breaks and increase the taxes they pay on their billion dollar profits???

  • jmkovarik

    Here’s a good tool to find out how much it will cost your drive somewhere over Memorial Day weekend based on current gas prices

  • Jim

    I’m shocked. Gas prices that were “supposed” to drop never really did so I’m not surprised that they found another excuse to raise prices. Those billion dollar profits aren’t enough; they’re thinking bigger, more like trillion!

    • StupidPeopleFTW

      Never really did? They dropped 15% in the last 10 days here…

  • Wittering

    We need solutions to this problem. Rocket scienists please make mehicles that can run with water. That way we will not have to pay such a high price on gas. If you are unable to make cars that run on water please make cars that run on solar energy. This way we will not pollute the air and cause untod pain to those people who suffer allergies every single year.
    Can you help solve this problem?

    • StupidPeopleFTW

      Buy a Volt or a Leaf.

      220 MPG so far in our Volt.

    • whatever

      They already created a car that ran on water. The guy died shortly after signing the technology over to the government. “food poisioning” hmmmm?

      • StupidPeopleFTW

        This, is a blatent lie.

  • govdontcare

    Isn’t it hilarious how ExxonMobil coincidently has problems directly prior to one of the biggest travel holidays of the year? I was under the impression there was regulation against price gouging? This is a JOKE. Someone please try to tell me that his is regulated and follows supply and demand (ha!)! How is it that our government is totally numb to the fact that these oil prices (even 3.65/gal) is putting low to middle class families in jeapordy?

    With our current oil inventories, there is no reason that our government could not regulate some type of mass buy where we purchase a set amount of oil, for a set amount of time, for a set price. It is FACT that big oil companies are more than profitable at 2.00/gal regardless the price per barrel.

    This is simple proof that our government does not care about the country it regulates.

    It’s also how amusing it is to see how these oil companies have also already brainwashed America into thinking that 3.65 or 3.50 for that matter is CHEAP GAS!

    I feel so blessed to be going broke trying to afford to DRIVE TO WORK. My Bachelors degree and experience have sure paid off lol!

  • jo Manny

    lol, now why am I NOT surprised by this?

  • unknown

    was it not over the past 3 weeks all of these experts have been “prediciting” tht gas prices were going down around memorial day? hmmm

  • Sandra

    Any rocket scientist who can make water run cars?
    We need to survive in this high rise gas prices. Make jobs come to the state and built cars that are solar paneled so people willhave something to ride.
    Any one at all?

  • Joe Patroni

    I don’t care if gas is $20.00 per gallon. I will manage. Just don’t make me wait in line to fill up my car. I rember very vividly waiting in my dad’s car in 1974 for over an hour for five gallons of gas.

  • Chase Gregr

    Who the hell is Patrick DeHaan? The entire Midwest gas market is quoting this guy and he could be a 13-year-old in Rockford with a Twitter account. Or someone with a short postion on gasoline. Really Tribune? Is there a verifiable fact in this article or just some anonymous person’s pontificating? I’d be asking Mr. DeHaan what his personal gain is when gas prices do go up because I don’t see anyone else pounding that drum…just askin’

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