Illinois gas prices make big jump in latest report

Posted on May 9, 2022
The national average price of gasoline has risen 13.6 cents per gallon in the last week. (WJBC File Photo)

By Jake Fogal

BLOOMINGTON-The latest gas report from GasBuddy shows Illinois gasoline prices increase in the past week.

According to GasBuddy, prices are up 19.4 cents per gallon in the past week, averaging $4.60 per gallon.

In the latest report, the cheapest station in the state is priced at $3.93, while the most expensive was priced at $5.78.

Meanwhile, the national average price of gasoline has risen 13.6 cents per gallon in the last week, averaging $4.31 a gallon.

“Gasoline and diesel prices alike saw strong upward momentum last week as oil prices continued to climb after the EU signaled its desire to sanction Russian oil. In addition, U.S. petroleum inventories saw yet another weekly decline as we near the start of summer driving season,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“Not only are diesel prices at a record, they are at their largest differential to gasoline on record, surpassing the 98-cent difference in 2008 and currently standing at a $1.20 per gallon premium. While motorists filling with gasoline have seen a slight rise in prices, diesel’s surge will be a double whammy as diesel prices will soon be passed along to retail channels, further pushing up the cost of goods.

Jake Fogal can be reached at [email protected].

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