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GasBuddy.com Senior Petroleum analyst Patrick DeHaan on the factors behind the spike in gas prices, particularly in the Midwest.
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My spike overnight at three cents on the national average almost three dollars and 57 cents a gallon not great news if you want to hop in the car.
Go to the pool at the beach this -- and so what gives.
Let's ask Patrick to -- senior petroleum analyst at gas buddy dot com Patrick thanks -- on.
-- revenue Melissa so I have to say gas -- dot com is -- website that is so cool because you guys have people around the country they're reporting we check it out in the morning and I was noticing today that there were big spike seven point seven cents a gallon overnight Illinois eight point two in Michigan seven point for an Indiana.
Seven cents in Ohio just these big spikes what's.
You know Obama seems like a Hurricane Katrina just came -- I remember that night that -- waking up in the morning prices went through the roof while.
There's no hurricane and that went -- but these are just -- -- -- exists at all the same time there's a pipeline outage in Wisconsin a crude pipeline that carries.
Crude oil from Canada to the midwest refineries are also three refineries -- have suffered issues in the last few days some malfunctions.
Various other issues and that's all impacting the price of crude oil.
Or excuse me gasoline in those areas and as you noted prices through the roof.
Yes so is -- kind of concentrated in Michigan Indiana Ohio Wisconsin or -- -- gonna spread out.
You know it's basically those areas for now lady -- he said Michigan Indiana Ohio Illinois Wisconsin and Kentucky saying embedded that is well however.
Prices will be moving up nationally as well you -- -- the national average we did some analysis today.
And I almost the entire three cent increase in the national average is due to these areas in the Great Lakes they -- that up that much and other areas will start see prices going up.
Crude oil went up four dollars a barrel today so a lot everybody's going to be in store for bit of an increase.
No absolutely I mean this is -- A lot of bad luck sort of a storm of bad things happening in this area with the refineries that you talked about but also you know we watch crude oil -- raging higher today.
That no doubt is going to get passed on there you can look at it they're up four dollars and 27 cents on the front month -- back to 9140.
That's about 5% on the day that's gonna come down the -- to what are we looking -- for the next few weeks and months would you -- Boy you know I think prices bulls beat continue to go up across the country here for at least the next three weeks.
That the only relief in sight that I see is once we get out of summer that's traditionally one demand drops.
The EPA standard changes we've talked about winter gasoline it's cheaper to produce we don't have all the strict air pollution standards and much of the U -- so.
That's what I'm hoping we'll see prices start to drop mid September.
Prices bottoming out perhaps in the low to mid three dollar range between Thanksgiving and Christmas any please -- really cheap right now gas I mean this does -- a picnic.
Well you know I found one station yet in South Carolina that was under three dollars that was the only station a Sam's Club.
-- two dollars an -- sense but the cheapest gas still in the southeast South Carolina.
Arizona actually has some very cheap gas is well.
All right Patrick context -- on tonight we appreciate it I South Carolina -- gas.
Maybe I.
