“Indiana’s prices have risen by 29 cents over the past week, nearly double the rate of increase the rest of the country is seeing,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “And the price escalation has been nearly as exasperating for consumers in Michigan (+.27), Illinois (+.26) and Wisconsin (+.23).”
Additionally, the U.S. Dept. of Energy’s weekly report today said crude oil inventories decreased by 6.9 million barrels to a total of 367 million barrels, a level that is 10.4 million barrels below last year’s.
“If there’s a silver lining in the report it’s that gasoline inventory increased and refinery output is healthy,” said Gregg Laskoski, another senior petroleum analyst with GasBuddy. “But with the backdrop of current demand and NYMEX crude at $106 we can only expect retail prices to continue their upward momentum,” Laskoski noted.