Energy Emergencies Declared After BP Refinery Fire In Indiana

There hasn't been an impact on gas prices so far after a fire shut down the largest oil refinery in the Midwest.

There are restrictions on the maximum working hours for truck drivers in some states.

The statewide energy emergency order signed by the governor Saturday states that the regulations will not affect the delivery of gas and diesel to stations.

The refinery, which is the sixth largest in the US, is offline.

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A total of 425,000. On an average day, that's how much oil is refined at the facility.

Key Background

A fire in the power house of the refinery led to a loss of cooling water that could potentially damage equipment, but no one was injured, and the extent of the problems are said to be limited to a small area of the facility. Ahead of the harvest in much of the Midwest, U.S. gasoline supplies are at their lowest August levels since 2015. In the event of a long-term refinery shut down, the crude oil stored at the Whiting refinery could be moved to Oklahoma.

What To Watch For

Patrick De Haan of GasBuddy said that the months-long trend in sharply declining gas prices should not be affected by the shutdown of the Whiting refinery.

There is a fire at the biggest US refinery.

Gas could be as low as $3.50 a gallon in some states.