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Joliet ExxonMobil Power Loss Fuels Price Surge
16 Sep
Summary
- ExxonMobil refinery in Joliet, Illinois, suffered a total power outage.
- This outage impacts about 6 percent of Midwest refining capacity.
- Gas prices are expected to rise soon in IL, IN, OH, and WI.
A total power outage at the ExxonMobil refinery in Joliet, Illinois, has caused the facility to shut down. This refinery typically processes 275,000 barrels of crude oil per day and accounts for approximately 6 percent of the Midwest's refining capacity. This significant disruption is expected to lead to sharper increases in gas prices.
Analysts have warned that residents in Illinois, Indiana, Ohio, and Wisconsin are likely to see higher gas and diesel prices very soon. The national average for gasoline has already risen to $4.25 per gallon as of Monday, with oil prices topping $100 per barrel due to escalating geopolitical tensions and refinery attacks globally.
Drivers should anticipate continued volatility at the pump in the coming weeks. While a return to normal refinery operations and easing crude oil prices could moderate increases, further supply disruptions may push costs higher, especially in the Midwest and on the West Coast.
