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Oil Down. Gas Prices Up. Why?

Brian Kelly Twitter:@brpkelly
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ST. LOUIS (KMOX)-It appears that issues affecting the supply of gasoline to Chicago, are driving up the price at the pump in the St. Louis area.

The AAA’s Mike Right says all the fundamentals, crude oil prices, supply, demand etc., point to lower gas prices here, so there must be a glitch in the distribution system.

And there is.

According to Bloomberg, BP is having to make some unplanned repairs to part of its huge Whiting, Indiana refinery, the largest supplier of gasoline to Chicago.  Plus, planned maintenance has reduced output at Marathon Oil’s refinery in Robinson, Illinois and Citgo’s refinery in Lemont, Illinois.

The companies don’t comment when those plants will be back up to full production.

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