By Jake Fogal
MCLEAN COUNTY – Gas prices have continued to rise across the country as here in Illinois gas is up 7.0 cents over the week, averaging $4.04.
“Average gasoline prices continued to move up last week thanks to a continued rise in oil and continued pressure from hot weather that impacted refineries. However, the pace of increases has started to slow down over the last few days, and for now, appears to have hit a peak over the weekend and is beginning to gently fall,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
According to GasBuddy, prices in the state are 20.5 cents higher than a month ago and 35.0 cents less expensive compared to this time last year.
The cheapest station in Illinois is priced at $3.37 while the most expensive is $5.19, according to GasBuddy price reports.
The national average price of gasoline has rose 8.0 cents over the week, averaging $3.79 a gallon.
Diesel prices have risen nearly 15.0 cents in the last week and stand at $4.14 per gallon.
“The price of diesel, however, continues to rise at a fairly strong pace with average prices up nearly 15 cents per gallon from a week ago. Diesel will likely continue to see upward momentum while gasoline price increases should become more limited. But, with oil remaining under pressure from Saudi Arabia extending its one million barrel per day production cut into September, the respite from gasoline rising may not last long. Plus, there remain unknowns about hurricane season that will likely become more active in the weeks ahead,” De Haan said.
Jake Fogal can be reached at [email protected].
