Gas Price Warning Issued for Great Lakes States
Summary
Gas prices in the Great Lakes states are expected to rise soon, with Ohio likely to face the largest increase. The price hikes are linked to global events and problems at a major refinery in Illinois.Key Facts
- Gas prices are forecasted to increase in Ohio, Wisconsin, Indiana, Michigan, and Illinois.
- Ohio has the highest risk of a large gas price jump.
- Diesel prices in these states are also expected to rise.
- Current average gas prices range from about $4.00 in Indiana to nearly $4.90 in Michigan.
- Gas prices have risen sharply compared to last year and earlier in 2024.
- Rising prices are due to global oil supply disruptions from conflicts in Iran and Yemen.
- A flood and power outage have caused problems at ExxonMobil’s Joliet refinery in Illinois, reducing fuel supply.
- The refinery’s issues contribute to higher wholesale gasoline prices in the Midwest.
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