Gas Prices Spiking – But It’s Temporary

Gas prices in Indiana are once again on the rise, but this time it seems to be only affecting the Great Lakes region. The average price of gas in Indiana has risen to $3.83 per gallon, while the national average is only up slightly at $3.55.

According to Senior Petroleum Analyst Patrick DeHaan, this regional increase is due to a number of issues plaguing the Great Lakes oil industry.

“A lot of what’s going on is, we have three refineries that have suffered issues over the weekend. Also, the crude oil pipeline that supplies Canadian crude oil to some of the region’s refineries has been shut down temporarily, so, the culmination of those factors is leading to some tightness in supply that is causing prices to rise,” said DeHaan.

DeHaan says this is a temporary situation, and he’s hopeful that it will only last a few weeks. Unfortunately, he can’t say if prices are peaking now or if they will continue to increase, but he emphasized that the contributing factors are temporary and will be resolved.

The rise in gas prices is only affecting the Great Lakes area, including the states of Michigan, Ohio, Indiana, Kentucky, Wisconsin, and Illinois.