Indiana Gas Prices Among Highest in Country

June 15, 2016AuthorMichael Gallenberger, WKVI 

 

Indiana gas prices have reached the list of the top 10 most expensive in the country. According to the AAA Hoosier Motor Club, Indiana now has the eighth highest state average.

GasBuddy.com Senior Petroleum Analyst Patrick DeHaan says the higher gas prices stem from multiple refinery problems seen around the Midwest over the past few weeks. “Marathon’s refinery in Detroit has had several issues that have affected gasoline production,” he says. “That plant is hardly producing any gasoline. It typically produces much of the gasoline for Southwest Michigan and Northwest Indiana. So too, at the same time, several major refineries in Toledo and just south of Toledo have been undergoing both maintenance and some have experienced unexpected outages.” That’s led to a shortage of refining capacity at a time when demand for gasoline is at a high during the summer travel season.

He adds that while it’s difficult to predict whether prices have reached their summer peak yet, it’s quite possible, “At least for the time-being, gas prices have peaked, and in the very short-term, across the state of Indiana, gas prices could drop five to fifteen cents a gallon over the next week or two, so long as there are no surprise refinery kinks.”

He says that while prices won’t be dropping to the levels seen over the winter months anytime soon, drivers should expect to see lower prices the rest of the summer, once the refinery issues are resolved.

Gas Prices to Remain Affordable for Thanksgiving Travel

November 24, 2015AuthorMichael Gallenberger, WKVI 

 

Gas prices are expected to stay low during the Thanksgiving travel period.

That’s according to GasBuddy Senior Petroleum Analyst Patrick DeHaan. He says in spite of rebounding oil prices, many gas stations won’t see too much change in price, “Some of these ultra-cheap stations that are in the $1.50 area may need to tinker with their prices in the days ahead if crude oil prices maintain today’s increase. So I don’t see any huge spikes at the pump, but some of those ultra-low prices you may see bounce a little bit higher.”

DeHaan expects prices to remain low beyond the next few days, as well. “Most of the time through the end of 2015, prices should be at or under $2 a gallon,” he says. “I don’t really see a whole lot of time being spent over $2 a gallon. Certainly, there could be a few days where gas prices rebound to say $2.09 or even $2.15 should something happen at the region’s refiners, but the chances of that are relatively low, so I see most of the time between now and the end of the year under $2 a gallon.”

He says it’s been a while since we’ve seen prices this low, “It looks like the winter should see some of the lowest wintertime gas prices that we’ve seen since the recession. So, though there may be some bumps in the road that result in gas prices rising temporarily, it’s still looking like a relatively pain-free winter at the pump compared to the last few years.”

According to GasBuddy, average gas prices are down nearly a dollar per gallon from this time last year.

Analyst Explains Gas Price Spike

Published: January 9, 2015
By: Anita Goodan, WKVI

The lower price of unleaded gasoline has relieved a pinch from consumer pocketbooks, but some retailers have dropped the price too low for a profit margin. GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said that has caused prices to spike.

“What you’re seeing with the big spike is essentially gas stations losing 20 or 25 cents a gallon and raising their price back up to where they’re making about 15 or 20 cents a gallon. Obviously, you have a 40 cent a gallon difference between a station losing 20 cents and making 20 cents and that’s where these big spikes come from. The good news is that prices are already coming back down,” said DeHaan.

Prices will not go much lower than where they are now.

“I think we’re very close to where we are going to bottom out this time around. Prices will likely go back under two dollars and will continue to bounce around maybe in the high one dollar range to the low two dollar a gallon range.”