A few weeks ago, petroleum industry analysts were predicting gas prices would continue a steady decline for the rest of the year. That prediction proved to be wrong this week with the discovery that several gas refineries in the Midwest have shut down for maintenance.
Petroleum analyst for the website Gasbuddy.com, Patrick DeHaan says scheduled and unscheduled refinery maintenance will put a spike in pump prices...
".....in the last week(reports) indicate refineries in the Midwest are only using 79 percent of their capacity, whereas three weeks ago, that number was closer to 99 percent. It shows there's a lot less gasoline being produced....."
DeHaan says within several days prices at the pump are expected to rise anywhere from 10 to 30 cents at the pump. He says these types of shutdowns often last a few weeks. In addition, crude oil prices also went up. DeHaan notes while the prices will rise, they should stay below the peak prices during the prime summer driving season.
