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Gas Prices Jump but Still Cheaper than Year Ago

Gas Prices Jump but Still Cheaper than Year Ago

Photo: Newsradio WTAX

The price of gasoline has been rising sharply in Illinois.

The statewide average is now $3.70, up 34 cents over the last month, according to the Triple-A Daily Fuel Gauge Report. Triple-A spokesman Beth Mosher says the increase is because the switch to the summer fuel formula is under way, and because the weather held down the price last month.

“It had an enormous effect about a month ago with low demand, supplies very, very plentiful. Now what we’re into really is not dependent on weather. It’s seasonal maintenance that refineries go through every single year to get ready for that switchover to the summer blend of gasoline,” she said.

The changeover reduces refinery capacity for a while, driving up the price, and when the summer formulation hits the market, it is a little more expensive than the winter blend.

The current price is still 16 cents cheaper than it was last year at this time.

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