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By Jake Fogal
BLOOMINGTON – Illinois gas prices are up over 15 cents per gallon in the past week, averaging $3.83.
According to GasBuddy price reports, gas in Illinois is 32 cents higher than a month ago and and down nearly 60 cents from last year.
The lowest price in the state this week was reported at is $3.19 while the highest is $4.79.
The national average rose nearly 8.7 cents in the last week, averaging $3.49 a gallon.
“With oil prices continuing their climb last week, gasoline prices were pushed higher across much of the country. But, the real hardline happened this weekend when OPEC+ members unexpectedly decided to cut over a million barrels per day of oil production, sending oil prices back over $80 per barrel. More significant jumps at the pump are likely coming down the pipeline,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“While demand has been somewhat soft this spring, the move to cut oil production ahead of the busiest months for consumption certainly sends a message that OPEC+ countries are aligned in their desire for consumers to pay more. While the initial impact to consumers could be 10 to 20 cents at the pump, there could be further developments in the days or weeks ahead that enhance the impact, especially as motorist prepare for the summer driving season.”
Jake Fogal can be reached at [email protected].