Joliet refinery repairs could drive up our gas prices
4 comments Tuesday, 10-06-09 | Posted By Bill Eby | Predictions
Chicago spot gasoline:
Chicago Spot: $1.85 UP 0.0543
Fair price adjustment: 0.7772
Fair Price: 2.4815
Average selling price 2.4400
Margin over cost + profit: -0.0415
Bad news today for the Midwest. Exxon will close the 127,000 barrel per day vacuum distillation unit for maintenance. Their 238,000 barrel per day Joliet refinery in Illinois will be on minimum output starting later this month.
This caused the Chicago spot price to climb 5 cents today. It will also cause our prices to be higher in the near future as well. Expect a possible spike tomorrow at the earliest, and Thursday at the latest.
stupid refineries….
@J:
Gotta have them and sometimes they need maintenance.
BUT, we’ve already seen 2 jumps in prices in the last 10 days. So another jump is definitely unwelcome.
Plymouth went up tonight from 2.37 to 2.49.
Plymouth was 2.37 and went up to 2.49 tonight