Gas Prices Could Be Less Than $2 Per Gallon By December

Indiana Refinery Coming Back Online Will Have Major Impact, Analyst Says

** RCB ** (BY)

Gas prices in Wisconsin are expected to drop in the next several weeks thanks to a major Indiana oil refinery going back online.

According to Gasbuddy.com, stations around Wisconsin are already starting to see lower wholesale prices for gasoline.

Senior petroleum analyst Patrick DeHaan said BP announced that a crude distillation unit at its Whiting, Indiana, refinery is back online after a two-week outage.

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“It’s a big deal,” he said. “The seventh-largest refinery in the country is now turning out gasoline from its largest unit.”

DeHaan said more supply will start pushing prices downward.

“Gas prices will be falling at least for the time being for perhaps several weeks so long as there are no new issues at refineries,” he said.

BP hasn’t said what caused the outage at the refinery. DeHaan said they’re predicting gas prices at some Wisconsin stations will be under $2 a gallon by Christmas.