Midwest Fuel Prices Drop with Repairs on Pipeline

According to the article, “Gas, oil prices both on the same track: downward” by Sandy Shore on 9/17/10, the Trucking Industry, along with all vehicle drivers, will be paying less at the pump for fuel, once the pipeline delivering crude oil to the Midwestern refineries is repaired and finished. The Chicago area recently had its lines reopened that deliver crude to Canada from the Midwest refineries. Analysts expect pump prices to lower because of the fix. As well as the pipeline reopening, crude prices are dropping for October by almost a dollar. Placing these two changes together, oil should drop in price. Something everyone is happy about especially those with truck driving jobs in chicago.



The unleaded regular gas national average rose around 5.5 cents last week to $2.740 a gallon, which is an average of 19 cents higher than that rate in 2009. This is according to the Oil Price Information Service, the Wright Express, and AAA.



Tom Kloza, the publisher and chief oil analyst of Oil Price Information Service, was stated in the article as:



“Although gasoline and oil supplies remain plentiful nationwide, the closed Enbridge Energy Partners pipeline caused concerns about supply problems for the affected refineries.”



With the oilrig leaks capped, the anxiety of the fuel market is coming down. This lowers the price of fuel and will help the Midwest cost of fuel to lower the national average.



All around, it’s good news for the consumer, both those in the Trucking Industry and people in cars and other motor vehicles. This in turn will boost the economy even more by consumers feeling less pressure from the cost of fuel





http://www.thetrucker.com/News/Stories/2010/9/17/Gasoilpricesbothonthesametrackdownward.aspx