GasBuddy obtained a statement Tuesday from BP regarding the safe restarting of its Whiting, Indiana refinery.
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Patrick DeHaan, a senior petroleum analyst with GasBuddy, said the Northeast could see an unexpected rise in gas prices in the coming weeks. The refinery had shut down a crude distillation unit earlier this month due to an unforeseen problem.
Gas prices are expected to plunge, but not as fast as they climbed when the markets learned the BP Whiting Refinery, the largest in the Midwest, would not be able to produce as much fuel as normal.
Gas prices in Benton Harbor and St. Joseph are now the highest in the region, with the lowest price standing at $2.74 today. He said prices at the pump could fall below $2 per gallon in some cases by Halloween.
Those states that were affected by the issues at the refinery could see decline in gas prices from 20 to 50 cents over the next two weeks.
“As we enter the final stretch of the summer driving season, autumn still looks to bring a big drop in gasoline prices”, DeHaan said. Prices shot well above the $3 per gallon mark in Milwaukee.
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In Cincinnati, the city-wide average price fell on Monday morning to $2.79 after the August. 12 peak of $2.99.
