Midwest Flooding Contributes To Rising Gas Prices
Some things are inevitable.
Death. Taxes. Rising gas prices in the spring.
If Memorial day is somewhere in the near future, you can bet the price at the pumps is going up. It just...is. And so it is again this spring. And every year it seems like we need to find someone or something to blame. This year apparently one of the villains is the flooding we're experiencing here in the Midwest.
Forbes Magazine is reporting that flooding in our part of the country is not only causing devastation to lives and industries, it's wreaked havoc on gasoline prices across the country.
The floods in the midwest caused a spike in ethanol prices, because transportation lines were washed out and trains were unable to make deliveries. Some ethanol refineries were incapacitated, but most continued to produce ethanol but were unable to ship it out of the midwest.
Forbes goes on to say if the corn yields are lower this year due to the flooding, we can expect...you guessed it...higher gas prices in the future, too.
On the other hand, as I mentioned above, gas prices always seem to go up in the spring and there always seems to be some reason why. Funny how that happens.