Leader of an Indiana refinery talks about rising gas prices
INDIANAPOLIS (WISH) — I-Team 8’s Richard Essex invited Matt Smorch, chief executive officer of the Indianapolis-based CountryMark cooperative, to the studio to talk about gas prices.
Countrymark owns and operates one of Indiana’s two refineries.
In the interview aired Thursday on News 8, Smorch says it’s unlikely any gas from Russia made its way to Indiana, but also shares about how the war in Ukraine plays into Hoosier gas prices.
Smorch says Countrymark buys all of its crude oil from producers in southwest Indiana, eastern Illinois and western Kentucky. They do not buy any overseas oil.
Smorch says historically high gas prices do not serve producers or consumers well. He says the sweet spot is around $3 a gallon.