Gas prices may have hit 'plateau' - analyst

Staff Writer
Geneseo Republic

Average retail gasoline prices in Illinois have risen 3.9 cents per gallon in the past week, averaging $2.27/g yesterday, according to GasBuddy's daily survey of 4,378 gas outlets in Illinois.

This compares with the national average that has increased 2.9 cents per gallon in the last week to $2.21/g, according to gasoline price website

Including the change in gas prices in Illinois during the past week, prices yesterday were 32.3 cents per gallon higher than the same day one year ago and are 16.9 cents per gallon higher than a month ago. The national average has increased 4.7 cents per gallon during the last month and stands 20.0 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on December 12 in Illinois have ranged widely over the last five years: $1.95/g in 2015, $2.63/g in 2014, $3.28/g in 2013, $3.40/g in 2012 and $3.36/g in 2011.

“Retail gasoline prices across the country appear to have hit a plateau and that's not surprising given the mix of potentially upward and downward forces working simultaneously on crude oil prices," said Gregg Laskoski, senior petroleum analyst for GasBuddy.