Chicago gas prices may spike due to storm

A man is seen pumping gas into his car in this undated file photo.
April 20, 2013 5:55:55 AM PDT
Gasoline prices are predicted to spike in the next couple of days as a result of the recent storm.

Analysts at GasBuddy, a gas price database website, predict that Chicago gas stations will increase prices by 10 to 25 cents per gallon over the next 24 to 48 hours.

On Thursday, GasBuddy posted a warning for the Great Lakes region on Facebook when Senior Petroleum Analyst Patrick DeHaan watched wholesale gas prices spike. According to DeHaan, changes in wholesale gasoline prices can indicate an increase in gas prices for consumers as stations pass along the price changes to their customers.

GasBuddy credits the price hikes to the torrential rains on Thursday, which led to the shutdown of some pipelines in the region, as well as issues at some area refineries.

DeHaan said that the price increases would be limited to the Great Lakes region.


Load Comments