Gas prices soar to 50 cents above US average

INDIANAPOLIS (AP) - Indiana's average gas price has soared to nearly $4.12 a gallon, pushing the state's average almost 50 cents higher than the national average.

Purdue University economist Wally Tyner says he's never seen such a large price gap. He blames the surge in gas prices in Indiana and other Midwestern states on "a perfect storm of refinery outages."

He says a fire at an oil refinery in Detroit and an ongoing upgrade of BP's Whiting refinery in northwestern Indiana are fueling much of the increase. But Tyner says a refinery in Joliet, Ill., is also undergoing maintenance, further shrinking regional gas supplies.

The website said Indiana's average price of a gallon of unleaded regular gas was nearly $4.12 Wednesday afternoon, compared with the national average of nearly $3.64 a gallon.

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6/5/2013 2:40:49 PM (GMT -4:00)