Gas price jump - Ohio

[MNgopher]

This refinery actually represents nearly 11% of the refining capacity for PADD2. When it has a hiccup, it is a big deal.

Now add in that its only producing a low rate for an unknown amount of time and you have a recipe for uncertainty and thus higher prices.

 

[quint]

I'm just north of Cincinnati and I filled up last week at 2.49 and today it is 3.39.

 

[morepwr]

It sounds like Ohio is doing a California imitation. About a month ago, the same thing happened here. First the powers that be claimed they exported too much and then the next day they claimed the standard "refinery maintenance" reason.

 

[Vuflanovsky]

Actually, the chain of events usually goes that they have a refinery fire caused by lack of maintenance that they were cited previously for and now are issued a 50 million dollar fine that somehow taxpayers pay for...and THEN it goes to high level of exports, additives, "other" refiners excuse, etc. The game is going universal.

I'm sure that if you watch closely in all states now there will be a lot more machinations and drama over the switch over to winter blend gas. That probably has more to do with $40/barrel oil and how much or little oil cos. & refiners have to fear than whatever new "reality" is being cited.

 

[Quattro Pete]

Gasoline is about 50 cents more this week compared to last, here in western Michigan.

Gas prices tend to jump very quickly based on any excuse, regardless how small. Interestingly, they don't fall that quickly when the issue gets fixed.

 

[Al]

I was waiting for grampi to weigh in on the evil speculators driving up the price of gasoline.

 

[Quattro Pete]

Originally Posted By: Al
I was waiting for grampi to weigh in on the evil speculators driving up the price of gasoline.

I'm sure he will... as soon as he's back from his mandatory vacation.

 

[kschachn]

Originally Posted By: oldhp
1 oil company's refinery affects 50% of it's production, no other oil company's production just BP's........and all the other oil companies make untold billions of dollars, unbelievable. Well we now know where America's weak spot is....God help us.


One huge weak spot is the number of refineries in the US, no doubt about that.

 

[bbhero]

Exactly.. We have not had a new refinery built in this nation since the 1970s. One very near me in Yorktown closed down in 2010. My step father retired from there in 07. BP took over the refinery from Amoco. It really was used as a testing facility by Amoco. Well BP took over and it turned into a very profitable facility. They sold it off to Giant which managed it rather well. They sold it off to Western a company from out west. Western attempted to incorporate a lot of new money and technology into this refinery. They were attempting to take very low quality crude and turn it into gasoline. It did not work out well at all. I knew a very nice fella who worked as a controller there and he told me the new system was dangerous and prone to failure. Western shut it down. After investing well more than 200 million dollars into the refinery. Very sad to see a place that had over 200 employees that were generally well paid too. I'm very surprised that no other company has taken the time to invest in this place. But yes, we need more refineries or bring some shut down back online.

 

[SHOZ]

Went from $2.28 to $2.99 here. The Whiting refinery was completely overhauled a few years ago to use the Canadian tar sand oil. There is a pipeline going to it that delivers 400k bbls a day and they are building a twin pipeline next to it right now.

 

[AP9]

$2.46 to $3.39 in a week, compliments of the same BP refinery that leaked crude into Lake Michigan last year and introduced excessive polymer residue into my fuel tank back in 2012.

 

[WiskyBadger]

Saw $3.29 tonight. So it has gone from $2.43 to $3.29 in less then a week. Funny how that works. Cant wait until it goes down a penny every 4-5 days again.