REPORT: Gas prices to rise significantly in next 48 hours
(Press Release) Wisconsin, WI- Motorists should be aware of the likelihood of rising gas prices in the next 48 hours in Wisconsin.
"I expect a majority of gas stations to have increased prices at least 10-35 cents per gallon by Friday evening with most stations starting to raise prices as early as Thursday morning when compared to today's prices. Some areas in Michigan and Indiana may flirt with $4/gallon," said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst.
DeHaan explained the reason for the rise in retail prices as new pipeline glitches which have come to light. In addition to three regional refineries suffering setbacks, it was also discovered that Enbridge had to shut a pipeline that delivers crude from Canada to Chicago, putting further dampers on a tight market. "While this situation will be temporary in nature, prices will remain high as long as these problems continue," DeHaan said. Gasoline spot prices, the price stations pay before taxes, rose nearly 21-cents per gallon just on Wednesday morning, totaling a rise of 61-cents per gallon since July 25.
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