Illinois and neighboring Missouri residents are feeling a large increase in gas prices this week.
The statewide gas price average this week in Illinois is $3.77 for regular unleaded.
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Steadily rising crude oil prices and climbing gasoline demand resulted in a pump price jump this week. Crude oil, the main ingredient in gasoline, is hovering around $80 per barrel, about a $10 increase from just a few months ago.
Additionally, as the weather warms and days get longer, more ample driving time contributes to a rise in demand for gasoline – an annual trend we see.
Locally, Gas Buddy reported the following prices on Thursday, March 7, 2024, for regular unleaded:
QuikTrip, Edwardsville, $3.70 a gallon.
Shell, Alton, $3.76 a gallon.
Casey's, Godfrey, $3.69 a gallon.
Handee Mart, Bethalto, $3.69 a gallon.
Casey's in Brighton, $3.69 a gallon.
Illinois' average gas price has increased 22 cents in a week. Missouri is $3.19 for a gallon of regular unleaded fuel, according to the AAA Missouri Weekend Gas Watch. That price is 26 cents more compared to this day last week and is 18 cents more per gallon compared to this day last year.
“Higher crude oil prices and increased demand contributed to the Missouri statewide average gas price surpassing the $3 per gallon mark this week for the first time since November 2023,” said AAA spokesperson Nick Chabarria. “The current oil and gas environment, along with warmer weather and longer days, is ripe for further pump price increases as spring quickly approaches.”
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