NBC15 WMTV | Madison, WI | News

VIDEO REPORT: Refinery Problems, Spill Drive Up Great Lakes Gas Prices

UPDATED Saturday, August 4, 2012 --- 6:40 a.m.

Note from NBC15. AAA is out with its fuel gauge report this morning. The "average" price of gasoline in Madison is $3.86 -- up from yesterday's average of $3.75. But just driving around town we've seen prices of $3.95 or higher.

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POSTED: Friday, August 3, 2012 --- 1:15 p.m.

MADISON, Wis. (AP) -- A rare combination of troubles is driving up gas prices in the Great Lakes region.

GasBuddy.com petroleum analyst Patrick DeHaan said Friday that several Great Lakes states have seen prices surge about 40 cents per gallon in the last week. That follows a pipeline rupture and shutdown in Wisconsin and equipment problems at refineries in Indiana and Illinois.

Illinois has experienced the biggest price jump, from a statewide average of $3.61 a week ago to $4.05 on Friday.

DeHaan says the confluence of incidents is unusual and has created fears of a shortage that has spooked the gas market. But he says it typically takes only a week or so to make refinery repairs, and prices should begin to drop during the next few weeks.

Copyright 2012. The Associated Press


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