Summer spike in several Midwestern states - KWWL - Eastern Iowa Breaking News, Weather, Closings

Summer spike in several Midwestern states

Posted: Updated:
CHICAGO (KWWL) -

Oil prices hit a six-year low this week, but we're still hearing about a summer spike at the pump.

Prices could go up in several Midwestern states because of a problem at an Indiana refinery. A key piece of equipment was heavily damaged so the refinery is not running at full speed. Wholesale prices in Chicago jumped more than $0.80 gallon this week.

We asked Patrick DeHaan, the senior petroleum analyst for Gas Buddy, if Iowa will be affected. "Some increases in plains states are possible... yes... as supply is tight in the Midwest because of this. Also, previous refinery issues play into it as well. Now refiners in your area may send product east lured by high margins," said DeHaan.

Powered by Frankly