Thursday, October 6, 2022, 11AM: On September 25, I wrote, “If the refinery issues can be sorted out quickly, retail prices would head much lower.” Instead, the fatal refinery fire in Toledo has thrown a wrench in gasoline supplies in the Midwest, and it doesn’t look like that refinery is going to start up again for months. The supply chain will resolve itself, but until then, we are running at least a dollar a gallon higher than many other parts of the country. We have the right to be aggravated, particularly after seeing that serious jump to $4.49 earlier this week. Certainly wholesale oil prices, and for that matter, some of the wholesale gas prices out of Chicago, don’t align with prices over $4 a gallon.
And in what had to be a “fat finger” mistake last night, I saw a jump to $4.89 at a few stations on Lake Michigan Drive. I’m not able to go back to those stations today to see if they have corrected it, but there are no signs of those prices online right now. -EA