Gas Prices Up Again In Indiana
Have you noticed? Gas prices are quickly on the rise again in Indiana.
Friday's Fuel Gauge Report shows the average price for a gallon of regular unleaded is $3.84 in Indiana. That's way up from $3.51 last week and $3.38 a month ago. So, what's the deal?
Rose Hulman Professor Dale Bremmer says supply restrictions in the midwest are to blame. He points to a malfunction at a refinery in Northwest Indiana and problems at a Citgo refinery in Illinois and a Phillips 66 refinery in Illinois plus two serious pipeline problems. This despite high inventories of gasoline and oil.
Bremmer says the oil speculation, panic buying and the volatility of short run prices in gasoline is also to blame. Bremmer says he expects Labor Day and the end of the summer driving season should bring relief and perhaps even decline in prices. Ultimately, Bremmer says until oil alternatives are found, the public is pretty much at the mercy of oil companies.