Gas Pump Relief?

Consumers may see some relief at the gas pumps although gas prices rose overnight. But now a Midwest refinery may restart. In the meantime, oil and gas futures dropped sharply from early highs on a growing sense that refineries are finally starting to produce enough gas. The average gas price jumped 2.6 cents overnight to $3.026 a gallon. Gas prices which typically lag the futures market, have risen 7.7 cents over the last week after falling steadily from a late May peak of $3.227 a gallon. July 1, a refinery in Coffeeville, Kansas, due to flooding and the shutdown this week of a huge piece of oil processing equipment at a BP PLC refinery in Whiting, Indiana, have sent prices in the Midwest and Plains states sharply higher, boosting the national average.