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Gasoline prices not up on Illinois spill

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Published: March. 6, 2012 at 7:16 AM
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NEW LENOX, Ill., March 6 (UPI) -- The impact that the closure of an Enbridge oil pipeline in Illinois will have on gasoline prices is expected to be minimal, analysts said.

The Illinois Environmental Protection Agency and the federal Pipeline and Hazardous Materials Safety Administration are monitoring the scene of an accident that forced the closure of an Enbridge oil pipeline in New Lenox, Ill.

Maggie Carson, a spokeswoman for the Illinois EPA, was quoted by the Chicago Sun Times as saying some of the oil from the pipeline had burned off. It was estimated that around 475 barrels of oil spilled when two vehicles crashed into nearby infrastructure.

Enbridge said the pipelines would probably be closed until Thursday. It's part of a 467-mile pipeline that stretches from Wisconsin to Indiana carrying mostly crude oil from Canada.

Patrick DeHaan, a petroleum analyst for the Web site GasBuddy.com, told the Sun Times the impact on gasoline prices would be "minimal."

"If the repairs drag on, of course, that could change," added Jennifer Brumback, an editor for the Oil Price Information Service.

Gasoline prices have soared along with oil prices in part because of geopolitical tensions with Iran.

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