Chicago gas prices surge; highest prices in months
Gas prices in Chicago are at their highest prices in the last six months and some experts said they show no signs of going down anytime soon.
The surge has hit drivers at the pump especially hard in the last 30 days.
The average price for a gallon of regular unleaded in Chicago and the surrounding suburbs is $3.89.
That’s about $0.25 to $0.30 higher than prices in Northwest Indiana; you can thank Illinois’ taxes for that.
But the spike in prices can be blamed on three things: new gasoline blends, crude oil prices and higher demand.
Local refineries are switching over to a summer blend which means current supplies in the Midwest have been reduced.
Demand is also up slightly, simply because more drivers are on the rode now.
Crude oil prices have also spiked on the world market due to the unrest overseas between the Ukraine and Russia.
The price for crude oil jumped $2.00 a barrel Monday on the open market and prices are expected to climb even higher as the unrest continues.
WGN News Writer Judith Ruiz-Branch contributed to this story.