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Wed Aug 8, 2012, 02:56 PM

Refinery Fire Could Boost Gas Prices Nationwide [View all]

Source: USA Today

Motorists in West Coast states are about to see a big spike in gas prices, the fallout from a fire that cut production at one of the region's largest oil refineries.

Gasoline prices, now averaging $3.87 a gallon in California, $3.72 in Washington and $3.69 in Oregon, are expected to spike to $4.15 to $4.25 a gallon over the next week to 10 days following Monday's partial shutdown of a Chevron refinery in Richmond, Calif.

Nationally, gasoline prices have climbed 27 cents a gallon in the past month. While the refinery fire will drive prices along the West Coast, it will also lift the national average above year-ago levels.

"August looks like a very touch-and-go month for the entire country," says OPIS analyst Tom Kloza, who expects price relief after Labor Day. For the year to date, gasoline has averaged $3.61 a gallon 10 cents more than the average for all 2011, the most expensive year ever, he says.

Read more: http://www.usatoday.com/news/nation/story/2012-08-08/refinery-gas-prices/56875468/1



Mid-Michigan prices spiked well before this fire with un/reg selling for 3.89-3.99g

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