NEW YORK, April 28 (Reuters) - The average U.S. gasoline
price rose to its highest level in nearly four years, jumping
more than 40% since the U.S. and Israel attacked Iran at the end
of February, according to data from the American Automobile
Association or AAA.
Prices at the pump were near $4.18 a gallon on Tuesday, up
11 cents a gallon in this month and $1.19 a gallon since late
February, AAA data showed.
Gasoline prices could climb further if crude oil prices continue
to surge. Last week, Brent crude futures gained about
16% and U.S. West Texas Intermediate rose nearly 13% on
growing supply worries as efforts to end the Iran war stalled.
Oil prices had taken a breather earlier this month on hopes of
the Strait of Hormuz reopening.
Refinery issues and scheduled maintenance in the Great Lakes
region is expected to keep prices elevated for consumers in the
Midwest, GasBuddy analyst Patrick De Haan said.
BP's 440,000-barrel-per-day oil refinery in Whiting,
Indiana over the weekend experienced a brief power outage that
caused one of its processing units to be shut down.
Phillips 66's 356,000-barrel-per-day Wood River refinery
in Illinois took its crude oil unit and some other parts of the
refinery offline at the end of February for a 45-day maintenance
period.
Marathon Petroleum's ( MPC ) 253,000-bpd Robinson refinery
in Illinois also began planned maintenance in mid-March, with
units expected to remain offline until mid-May.
Retailers in the Great Lakes region might raise prices again
as early as today, De Haan said.