Posted in: Gas Prices,
by Patrick DeHaan on Jun 12, 2013 12:17 PM
Three cheers! It appears the surge in gasoline prices across the Great Lakes states is soon to be over. For the last four consecutive trading sessions, spot gasoline prices (which influence retail) have dropped a healthy amount.
The sudden change comes as ExxonMobil reports its Joliet, Illinois refinery back online, and with it, an expected increase in gasoline production. Perhaps the best news was from the Energy Information Administration today, highlighting a healthy increase in the amount of gasoline supply in the region, likely as motorists curb their consumption of record high priced gasoline.
States to see the biggest relief at the pump in the next week include Michigan, Indiana, Illinois, and Wisconsin. Ohio will also see some relief, but by next week Wednesday, I fully expect these areas to have easily declined double digits, and in some cases, retail prices could be 30-cents lower than they stand today.
We are alerting motorists to hold off on filling their tanks in the Great Lakes region as gasoline prices are poised to begin dropping in these areas, and motorists can save money by delaying filling their tanks.