Midwest Gasoline Surges to Record on Regional Supply Shortages
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Spot gasoline in the U.S. Midwest jumped to a record premium as refinery repairs and a delay in pipeline deliveries reduce supplies in the region.
The Explorer Pipeline, which transports oil products to the Midwest from the Gulf Coast, can take 11 days to deliver a barrel, the company’s website shows. The company said this week that shipments are delayed because of larger-than-expected demand. Refineries including Exxon Mobil Corp.’s Joliet plant in Illinois and Northern Tier Energy LLC’s St. Paul Park plants in Minnesota were also performing unit repairs in recent weeks.