COFFEYVILLE, Kan. --- Retail gasoline prices rose overnight on Friday for the first time in over a month, the Associated Press reported. AAA and the Oil Price Information Service reported that the average national price of a gallon of gas inched up 0.3 cent to $2.952.
In particular, the closure of a refinery in Coffeyville, Kan., damaged by flooding, is expected to cause prices in Kansas, Oklahoma, Nebraska, the Dakotas and Minnesota to climb dramatically. About 42,000 gallons of crude oil spilled from the refinery July 1. That refinery is normally capable of producing up to 2.1 million gallons of gasoline per day.
Rising oil prices also indicate that gasoline prices will begin an upward climb.
Originally posted on Fleet Financials