Expert: Refinery Issues Causing Higher Gas Prices For Chicago Area
CHICAGO (CBS) – While the temperature may have you confused about what season it is, gas prices will tell you it’s almost summer time, reports WBBM’s Nancy Harty.
Gasoline prices have gone up 8.6 cents-per-gallon in the past week in Chicago, putting the average gallon of unleaded here at $4.29 according to gasbuddy.com
Petroleum analyst Patrick DeHaan attributes it to refinery issues.
“This is a time of year when refineries are coming out of their seasonal maintenance. These facilities are very old, in some cases approaching or surpassing 100-years-old,” said DeHaan.
He says when BP’s Whiting refinery opens its expansion anytime in the next few months, prices will drop. It would be timely as gas is 29 cents a gallon higher in Chicago than year ago.