GAS PRICE SPIKE COULD HAVE BEEN NEGATED BY ETHANOL
Data released this week by the Energy Information Administration (EIA) confirm that the unplanned outage of a 240,000-barrels-per-day unit at a refinery in Whiting, Indiana, caused gas prices to spike throughout the Midwest. EIA noted that, on Aug. 17, regular gasoline prices in the Midwest increased by 32 cents a gallon from the previous week to $2.79 a gallon — which, according to EIA, is the largest weekly increase for Midwest gasoline prices since the aftermath of Hurricane Katrina in 2005.
“The EIA data show that the refinery outage made a serious dent in the wallets of consumers,” said Bob Dinneen, President and CEO of the Renewable Fuels Association, who noted that RFA released a statement in response to the unplanned shutdown.
“The Environmental Protection Agency and the Obama Administration have all the tools they need at their disposal to assist in blunting the consumer impacts of the refinery outage. We, once again, call on EPA to immediately waive RVP requirements for E15 and also allow E12 blending in the Midwest region.”