Gas prices in Indiana, Muncie skyrocket because of pipeline, refinery problems
By Rick Yencer
MUNCIE, IN - The price of gasoline will skyrocket in the next few days, reaching well over $4 a gallon thanks to pipeline and refinery problems in Chicagoland.
That's the good news from Patrick DeHaan, senior energy analyst for gasbuddy.com who has already tracked as much as a 17 cent hike in July, that is the biggest jump in 12 years.
Sure the economy is still slugging along, but motorists in Muncie and elsewhere in Indiana began to notice a gradual hike in the past week from around $3.39 up to $3.69 on Wednesday.
DeHaan said that is just the beginning after reports of a leak in a Canada-United States pipeline that pumps crude oil directly to big refineries in BP Whiting Refinery in Indiana, and Citgo Lemont Refinery in Romeoville, Ill.. That shutdown means less supply, and other refinery problems besides those with a facility near Saint Louis, spell higher gas prices already seen in Chicago at $4 or more.
Those higher prices will stick around for weeks just as public schools and universities resume classes in August. That means strains on public school district and college transportation funds. And those late summer vacations also will be more costly as it will take $50 to $60 just to fill up that standard SUV or four door sedan.
Dawn Smiley was filling up her SUV at the Shell on McGalliard Road and was surprised gas prices would go up again after a 40-cent swing in the last couple of weeks. She definitely planned to curtail travel saying, "I just won't go."
And DeHaan would not rule out other increases depending on peace in the Mideast and other economic conditions as the country heads toward the Nov. 6 election..
Gas prices have been lower this summer than last spring when they hung around $4 a gallon.