AAA Hoosier Motor Club Gas Gauge
(July 11, 2007)
National Gas
Prices
(self-serve
regular unleaded)
Today:
$3.000
Yesterday: $2.975
One Month Ago: $3.081
One Year Ago: $2.968
Indiana Gas
Prices
(self-serve
regular unleaded)
Today:
$3.047
Yesterday: $2.985
One Month Ago: $3.164
One Year Ago: $3.012
Marketplace Overview
Gas price averages have increased substantially over the
last several hours, particularly in the Midwest, thanks at
least in part to an unexpected recent shutdown of BP Whiting
Refinery’s largest crude unit, near Chicago.
The Whiting refinery is the largest supplier of gasoline to
Midwest markets.
According to refinery officials, the shutdown was
implemented to address a small leak that was found in the
facility’s No. 12 pipe distillation unit July 5.
That particular distillation unit has the ability to
reportedly process up to 250,000 barrels of oil daily, which
is about 40 percent of the refinery’s capacity.
Other contributing factors to accelerating gasoline prices
appear to be escalated crude oil prices (now in the vicinity
of $73 per barrel) and the temporary loss of a 108,000
barrels per day refinery in Coffeyville, KS due to flooding.
The high price of crude oil remains somewhat of a mystery
since crude supplies remain relatively high in the U.S. Some
analysts say the inflated price may be due to concern about
rising world demand for petroleum products—China’s June oil
imports are reported to be running 20 percent ahead of last
year, for example—and concern that a conflict could be
triggered between the United States and Iran this year over
Iraq, terrorism, nuclear power or all three.
Yesterday’s announcement that the U.S. has deployed a third
aircraft carrier to the Persian Gulf supports that belief.
AAA’s Daily Fuel Gauge Report
Current gas price averages can always be found on AAA’s
Daily Fuel Gauge Report at
www.fuelgaugereport.com. The report is based on data
from Oil Price Information Service, the nation’s most
comprehensive source of petroleum pricing information. AAA
purchases the data and makes it available free on the
Internet as a public service. Average daily prices for the
nation, all 50 states and more than 250 localities are
available for all grades of gasoline, making the site the
most current and complete public source of fuel price
information.
AAA’s Fuel Cost Calculator
In order to help Americans establish travel budgets while
making vacation plans, AAA and Oil Price Information Service
have combined to offer an online tool that will help
travelers estimate the cost of gasoline they will use during
long-distance driving vacations. The site can be found at:
www.fuelcostcalculator.com.
Indiana Gas Gouging Hotline
The Indiana attorney general established a gas gouging
hotline early in 2004 for people who feel that local gas
stations are charging unfair prices. That telephone number
is (866) 241-9753.
AAA
AAA Hoosier Motor Club is a fully tax-paying, not-for-profit
corporation offering a wide range of member services. The
405,000-member affiliate of the American Automobile
Association (AAA) works for the improvement of motoring and
traveling conditions in the state of
Indiana.
AAA is the largest motoring and traveling organization in
the world with more than 50 million members.
Read other releases...
|
