Business & Tech
Why Did Gas Prices Jump 20 Cents in New Lenox?
An Exxon plant leak in Joliet and a switch to summer fuel likely accounted for the overnight price jump.
If you forgot to fill up the tank yesterday, you're kicking yourself now.
Gas prices in New Lenox jumped about 20 cents overnight on Thursday, and throughout the state the sudden increase varied from 11 to 40 cents. Earlier this week, the , but on Thursday it was $4.29, according to Gas Buddy.
Why the sudden jump?
Find out what's happening in New Lenoxfor free with the latest updates from Patch.
According to Bloomberg News, an Exxon Mobil refinery in Joliet had an upset May 21 that caused a leak. The article states that refinery outages can increase prices as the company turns to spot markets to help them meet supply contracts.
In Crain's Chicago Business, reporters also said the jump may have seemed large because prices were lower over Memorial Day weekend, and also because stations are switching to summer fuel, requiring them to get rid of remaining gas they have.
Find out what's happening in New Lenoxfor free with the latest updates from Patch.
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