The price of gas is dropping in Illinois.
It’s at a statewide average now of $3.54, down from $3.79 a month ago, and from $3.78 a year ago at this time, according to the Triple-A Fuel Gauge Report. This is the cheapest August price since 2010.
Bill Fleischli of the Illinois Petroleum Marketers Association, representing gas station owners, explains what’s going on: “The world is looking at maybe a little stability in the Mideast, demand is less on supply, so the market’s reflecting a little drop in wholesale, and that’s being reflected at the retail market,” he said.
The price in Illinois is still higher than in neighboring states. Fleischli says this is due to Illinois charging a sales tax on gasoline, a percentage tax that gets higher as the wholesale price gets higher.