BP Whiting down, prices should go up.

After a mini-spike yesterday, some stations have gone back down, as it wasn’t warranted at the time. Today, BP announced an issue with their refinery in Whiting, IN, and they are closing it down for repairs.

Market prices shot up today. Expect price at your local station to follow suit very soon.

Updated: August 23, 2011 — 5:41 pm

4 Comments

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  1. ChrisDG74, Cincinnati, OH

    Yep, GREEDway not wasting any time in Ohio.
    $3.759 is the price they’re trying to get everyone else to jump to. Glad I paid $3.319 last night.

  2. This post is not entirely correct. The Whiting Refiney continues to operate and produce products for customers.

  3. I have what some would consider a stupid question. Is the OH-MI-IN area the only place that pays through the nose when a refinery goes down? I have family in NJ, and in AZ, and those prices never seem to vary in comparison to other states. Those states stay the same color on the heat map on GasBuddy. Always green or light green. Never a yellow as if a refinery was pushing up their pricing. Our three states will seldom be light green, and a lot of the time orange and even red. I understand the spike line stuff, but if a refinery goes offline, it should be affecting somebody else besides our three states.

  4. Good question, TimmP.

    I don’t have much of an answer. I do know that with BP Whiting having such high output, if it goes down, that’s a lot to catch up on. And I have seen in the past where a company with a refinery (like Sunoco in Toledo) buying a lot on the market to cover, causes prices to rise. But I have no clue about other states, though.

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