Gas prices went up today mainly due to a recent refinery issue, specifically flooding at a refinery in the Midwest, which has disrupted supply right before the Labor Day weekend, causing a surge in prices at the pump. This has pushed the national average price of regular gasoline up by more than 7 cents recently, reaching around $3.21 per gallon. While overall crude oil prices have seen some decline or stability recently, localized supply disruptions like refinery shutdowns or damage often cause short-term price spikes. Additionally, seasonal factors, refinery maintenance cycles, and the balance of supply and demand also influence gas prices. However, today's specific increase appears primarily linked to the Midwest refinery flooding event causing tighter supply conditions just as demand is expected to rise for the holiday weekend.
