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Midwest Gasoline Prices Surge Following Deadly BP Refinery Fire

  • Indiana sees retail-price spike, while Ohio could follow
  • Gasoline stockpiles are close to record lows in the region

A refinery fire in Ohio caused gasoline prices in neighboring Indiana to post the largest overnight increase of any state, with Ohio itself and Michigan poised to follow.

Average prices at the retail pump jumped nearly 6 cents a gallon in the Hoosier State, home to a major fuel hub supplying the upper Midwest, according to data from auto club AAA. The rise followed higher wholesale and rack prices, which surged by as much as 40 cents a gallon in some areas of Indiana, according to price reporting agency Opis. Spiking wholesale costs in nearby Ohio means retailers there will likely raise prices in the coming days, and Michigan may see an acceleration of retail gains already underway.