BP says the crude distillation unit that was undergoing repairs is back in production. This compares with the national average that has fallen 7.1 cents per gallon in the last week to $2.60 a gallon.
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“Retail prices across the Midwest had been moving lower already for the past seven days or so after that issue first caused a spike”. In Michigan, the benchmark was $2.962 per gallon, up 36 cents from last week’s average. In Ohio, average prices have dropped 22 cents. That’s down from $2.812 Monday and $2.984 last week. They also asked what can be done to speed up a decline in prices and prevent future spikes under similar circumstances.
Crude oil prices below the $40 per barrel mark, meanwhile, are keeping prices at the pump lower.
“As we enter the final stretch of the summer driving season, autumn still looks to bring a big drop in gasoline prices”, DeHaan said.
“Common fuel costs can be close to that time as we speak if refineries have been operating easily and demand was just like current years”, the motor membership stated in a weekly market report. DeHaan told the Free Press in an e-mail that he still expects that to happen. “Others may lag a few weeks but by Christmas … most should see stations under two bucks”.
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The Michigan Attorney General is warning gas stations in his state not to gouge consumers in the wake of a BP refinery outage in Whiting.
