Grand Rapids Gas Prices Skyrocket to Record-High $5 Amid Refinery Outage
Gas prices in the Grand Rapids area have soared to $5 per gallon amid rising costs. A News 8 crew spotted the price of $5.01 for regular unleaded fuel at a gas station on Alpine Road and 6 Mile Road in Comstock Park, Michigan.
The current average price of regular unleaded in the region is sitting at $4.83 per gallon, according to AAA.
This price hike may be attributed to a power outage at an oil refinery near Chicago, which produces about 11 million gallons of gas and diesel fuel daily, as reported by CBS News.
The increase also reflects a rise in oil prices, which passed $100 per barrel on Wednesday. The AP reports that the jump comes as hostilities intensify around the Persian Gulf, with US forces destroying five Iranian oil tankers and an Iranian-backed Houthi rebel group striking oil facilities in Saudi Arabia.