By rssfeeds-admin Refinery issues in Indiana and neighboring states were causing a big chunk of the problem, but DeHaan says many of those refineries are either back online or in the process of getting back online.
“The BP Whiting Refinery had an issue a little over a week ago. It was a power loss and the power was eventually restored. Other refineries were having problems in Illinois. We are now seeing the wholesale price of gasoline drop as a result,” said DeHaan.
That’s part of why he says it’s best to wait to fill up your tank.
“I would wait for at least the next couple of days. That looks like a better bet, but you’ll want to pay attention to the headlines as well because those could be a gamechanger,” said DeHaan.
DeHaan says the Great Lakes region has been the epicenter of the biggest price increases.
“This whole thing has been pretty extraordinary. It’s only been a couple of times that I’ve seen prices go up this quickly. We’re seeing the highest gas prices we’ve had since 2022. Americans are spending roughly $15 to $30 more per tank on each fill up so it’s certainly adding up,” said DeHaan.
With Tuesday being May Primary Day, DeHaan said he wouldn’t be surprised if high gas prices are on the minds of voters.
“It’s hard to know if we’re at a point where Americans will vote differently. There’s still plenty of time for prices to decline until we hit the general election in November. Americans have spent $24 billion more on gasoline since March 1. I imagine folks are pretty upset about that and understandably so,” said DeHaan.
With refineries in the Great Lakes getting back up to speed, DeHaan says diesel prices could fall from their near-$6/gal by 25-65c/gal so long as no new issues surface.
The post Gas Prices Expected To Decline appeared first on WOWO News/Talk 92.3 FM and 1190 AM.
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