By Jake Fogal
BLOOMINGTON – Gas prices across Illinois are down almost 18 cents over the past week, averaging $4.82 a gallon.
Costs at the pump have dropped about 64 cents over last month, but are $1.52 more expensive compared to this time last year.
According to GasBuddy price reports, the cheapest station in Illinois is priced at $3.68 while the most expensive is $5.99.
The national average is slightly down over the week averaging $4.33 a gallon.
The national average price of diesel has declined 13.0 cents in the last week and stands at $5.41 per gallon.
“Gas prices continue falling coast to coast, with the national average last week declining for the sixth straight week, or 40 days in a row. The national average is now down an astounding 70 cents in that timeframe,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“I have no reason yet to expect the decline won’t reach seven straight weeks, as gas stations still have plenty of room to decline as oil prices remain under $100 per barrel. however, should the tropics become more active, the decline could eventually reverse. In addition, this week we’ll see GDP data for the second quarter, and if it’s better than expected, we may see oil rally, slowing the descent. For now, nine states are seeing average prices under $4 per gallon, a number that will rise this week, with over 40,000 stations under that level, keeping $266 million per day in motorists’ wallets versus mid-June.”
Jake Fogal can be reached at [email protected].
