Gas prices are not expected to increase with the closing of a Central Illinois oil pipeline later this month. (Photo used by Flickr user rcbodden)
By Alex Degman
SPRINGFIELD - A Central Illinois oil pipeline is shutting down, but an industry expert doesn’t expect consumers to notice.
The Buckeye Pipeline Co. will shut down an oil pipeline that runs from Indiana to Iowa by the end of the month. Terminals at Mossville and Chillicothe, which supply many Central Illinois gasoline retailers, will close with it. Bill Fleischli of the Illinois Petroleum Marketers Association says supply might be tight while retailers search for new terminals, but doesn’t expect a gas price hike.
“There’s other terminals that will maybe go after these people, these individual marketers and businesses,” says Fleischli. “They may be competitive enough to save them some money.”
Fleischli says retailers have some“technical work” in front of them, but says the oil industry has gone through worse than a couple of closing terminals.