By Jake Fogal
BLOOMINGTON – Fuel prices in Illinois have continued to slightly fall over the last few weeks. Gas prices continue to drop across the state as prices at the pump are down 14 cents over the past week.
According to GasBuddy’s latest price report, prices at the pump have dropped 15 cents over the last month.
“We have seen prices now falling the last three weeks. In the last week alone we have seen the statewide average fall 15 cents a gallon. A lot of this coming as oil prices have started to sag a bit more, not only that, but gasoline supplies are starting to slowly to improve. It was just about a month and a half ago that gasoline supplies in the Midwest had fallen to it’s all time seasonal low,” Patrick De Haan, head of petroleum analysis at GasBuddy, said.
Although prices have been dropping, De Haan says there are no guarantees.
‘The coast is definitely not clear but for the last few weeks and maybe for the next week or two we could continue to see gas prices fall. We are still in the midst of hurricane season, and Mother Nature could decide at a moments notice to send us a major hurricane. That could impact oil production in the Gulf, and could shut down refinery’s in the Gulf Coast,” De Haan said.
The cheapest station in Illinois earlier this week was priced at $4.38 a gallon, while the most expensive was $6.79 a gallon.
De Haan says that Illinois is without a doubt still the most expensive state when it comes to gas prices in the Midwest, and was once the second most expensive state in the country, but now sits at seventh.
Jake Fogal can be reached at [email protected].
