WHITTING, Ind. — An oil industry analyst said the temporary BP oil refinery shutdown in Northwest Indiana will impact prices even at non-BP gas stations.
The BP refinery in Whiting, one of the largest in the country, suffered a power outage last week and it appears that it will be offline for at least two weeks.
Patrick DeHaan from GasBuddy.com said that given the loss of hundreds of millions of gallons of gasoline from the downtime, pricing impacts could spread around the Great Lakes region.
As a result, consumers are already witnessing a surge in fuel prices, with DeHaan reporting an increase to $3.39 in the suburbs and $3.49 or higher in the city.
The effects of the refinery shutdown extend beyond the immediate vicinity, with potential price hikes ranging from 25 to 50 cents per gallon in the broader Chicago area and across the Great Lakes region.
The temporary closure of the BP oil refinery in Northwest Indiana is not merely a localized issue affecting a single company but has broader implications for the regional and national fuel supply chain.