Higher Gas Prices Blamed On Coffeyville Flooding
Wednesday, July 11th 2007, 6:28 am
By: News On 6
KANSAS CITY, Mo. (AP) -- Oil-industry experts say residents in Oklahoma and other states in the region will pay more at the pump because flooding at a southeast Kansas refinery has reduced fuel supplies and sent wholesale gasoline prices soaring. Prices spiked ten cents a gallon Wednesday at some stations in the Midwest.
Tom Kloza of the Oil Price Information Service, says by the end of the week, prices could reach $3.25 to $3.50 a gallon in the Midwest and Great Lakes.
He said the prices that consumers pay in the next 10 days could be the highest of the year.
Before last week's flooding, the Coffeyville Resources refinery produced 108,000 barrels per day of gasoline, diesel and other fuel oils. Kloza said that represented about 1/7 of the refining capacity for the Great Plains.
Jon Callen, president of the Kansas Independent Oil and Gas Association, predicted the states most affected by the Coffeyville flooding would be Kansas, Missouri, Arkansas, Oklahoma, Nebraska, Iowa, Minnesota, north Texas and parts of the Dakotas.
Coffeyville Resources also has information about the flood at its web site.