Gasoline prices on the rise; fuel shortage due to flooded refinery

By the end of the week, prices could reach $3.25 to $3.50 a gallon in the Midwest, said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service. He said Tuesday that the prices consumers pay in the next 10 days could be the highest of the year.

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He said distributors are paying about 40 cents to 50 cents more a gallon now than at the end of June.