Covering the Land of Lincoln

Illinois gas prices are dwindling down, but could be rising again soon

Posted on August 15, 2022

GasBuddy says prices in Illinois are 79.5 cents lower than a month ago and were 96.6 cents higher than this time last year. (WJBC File Photo)

By Jake Fogal

BLOOMINGTON – Illinois gas prices have fallen 12.8 cents per gallon in the past week, averaging $4.26 a gallon.

GasBuddy says prices in Illinois are 79.5 cents lower than a month ago and were 96.6 cents higher than this time last year.

GasBuddy price reports show the cheapest station in the state is priced at $3.47 while the most expensive is $5.89.

The national average is down 9.9 cents in the last week, averaging $3.92 a gallon.

“For the ninth week straight, gas prices have continued to fall, but the streak is at great risk of being broken this week with wholesale gasoline prices having bounced back up some 40 cents per gallon as oil prices have rebounded,” said Patrick De Haan , head of petroleum analysis at GasBuddy.

“That means the decline in average prices could wrap up soon, with some price increases possible as early as this week, especially in areas of the Great Lakes. While the West Coast and some areas of the Rockies may see prices continue to drift lower, I do believe the national average could tick higher this week as the better than expected jobs report last week likely means less demand destruction than anticipated.”

Jake Fogal can be reached at [email protected]

Filed Under: Local News, Top Stories, WJBC’s Top Stories

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