Gas prices stabilized for now, future uncertain

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Sean Reed

A hand reaching for the gas pump in a car’s gas tank (Sean Reed | Northern Star)

By Caleb Johnson, News Reporter

This week, the average cost of gas in Illinois has risen to $3.48 per gallon, this is up from last week’s average cost by 10.2 cents.

The average price of gasoline in Illinois currently stands 17.9 cents higher per gallon than last month at this time and 6.7 cents per gallon higher than last year at this time, according to GasBuddy.

In Illinois, the lowest price of gasoline is $2.86 per gallon with the highest price of gasoline reaching $4.79, according to GasBuddy price reports.

Across the nation, the cost of gas for the past week is on average $3.28 per gallon. This price is higher than last month by 14.9 cents per gallon and lower than last year by 2.2 cents per gallon.

In Rockford, the lowest price is $3.24 per gallon and the highest is $3.59. In Sandwich, Ill., the lowest price per gallon is $3.37 and the highest is $3.59, according to GasBuddy.

According to Patrick De Haan, head of petroleum analysis at GasBuddy, some states have seen a rise in gasoline prices, others have begun to stabilize.

“Oil prices have seen a bit of a rally, finishing last week at nearly $80 per barrel again as Chinese demand starts to jump as expected, but with Covid cases and deaths now also surging in China, the jump in demand could be short-lived,” De Haan said.