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Why Have Gas Prices Jumped So High?

The perfect storm of Midwest pipeline and refinery problems sent prices at the pump well past the $4 mark in Mokena recently, according to reports. How will this affect your home budget?

The rupture and shutdown of a Wisconsin pipeline, as well as issues at Illinois and Indiana refineries have caused state gas prices to soar recently, the Associated Press reports.

Those prices, which were as high as $4.19 in Mokena earlier this week, are the highest in Great Lakes region, and the state average jumped from $3.61 a week ago to $4.05 on last Friday, the report stated. That jump also was the highest in the region.

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The price increase, however, should be temporary, with prices dropping in the next few weeks as the refinery problems are fixed, according to the report. In fact, the prices have started to inch down this week, and drivers can stations selling fuel for $4.05 in some places in the Lincoln-Way area.

Recently, . Most commenters expressed dissatisfaction with state gas taxes and fees, while others said there wasn't much people could do.

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But when the cost to fill up a tank reaches the $4 level and beyond—even for a couple weeks—something has to give, and it's probably going to be residents' personal budgets. Will these prices affect your spending? Will you drive less? Or will you cut out something else for a short time?

Share your thoughts and opinions in this article's comments section.

 

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DR- Mokena August 13, 2012 at 08:15 PM
Propaganda & taxes
don dunkin August 18, 2012 at 04:14 PM
$1,350 is what Obama costs WOMEN per year. Gas prices have gone up and is the same as a TAX Thousand Bucks or a Free Condom? Now 4.05 Then 1.84 Increase 2.25 Average miles per year 15,000 Average miles per gallon 25 Gas used per year 600 600 times 2.25 equals $1,350

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