ExxonMobil refinery issue triggers gas price spikes in five states

Gasoline prices rose sharply overnight across five states following operational issues at an ExxonMobil refinery in Joliet, Illinois. According to data from the American Automobile Association (AAA), regular gas prices increased from Wednesday to Thursday by approximately 17 cents per gallon in Michigan, 10 cents in Ohio, 8 cents in Indiana, 6 cents in Kentucky, and 2.5 cents in Illinois.

Energy analyst Tom Kloza of Gulf Oil attributed the jump to problems with a 50,000-barrel-per-day catalytic reformer at the Joliet facility. A catalytic reformer is essential for converting low-octane fuel into higher-octane material for gasoline. ExxonMobil confirmed it is working to resolve an operational issue but has not provided a timeline for a fix.

Wholesale prices in the region climbed an additional 25 cents per gallon later Thursday morning. Michigan experienced the most significant impact due to high wholesale prices on the Wolverine Pipeline. While further hikes are anticipated, analysts suggest the spike should not be sustained long-term.