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Chicago gas prices continue to fall before July 4 travel

Monday, July 02, 2012

Gas prices continue to fall across the Illinois and Indiana as drivers prepare to hit the road for the July 4 holiday.

The average price fell to under $4 per gallon for gasoline for the first time since February in Chicago, Illinois, and Indiana. In Illinois, drivers paid an average of $3.70 in the month of June; $3.65 in Indiana in the same month.

According to AAA, gas prices in the Chicago area have gone down 21 cents on average for regular unleaded in the last month. Prices at the pump are about 25 cents lower than this time last year.

Right now, the national average is $3.33 for a gallon of regular unleaded.

"Iit is pretty good," said motorist David Alvarez. "Saved some money, it helps us a lot. Whatever cents it goes down helps us buy more gas.

Patrick DeHaan, senior petroleum analyst for GasBuddy.com, says the slow economic recovery with still many Americans out of work is contributing lower demand and high crude oil inventory.

"Crude inventories remain at their highest level since 1990. That is a limiting factor on how high prices can go and that's putting downward pressure at the pump," said DeHaan.

The pressure may be pushing gas prices down, but some motorists aren't seeing a big difference yet.

"It doesn't seem like it's going down to me. It depends on where you go," said motorist Kyle Jackson.

From AAA Chicago's fuelgaugereport.com:

  • In Cook County, Ill., self-serve regular unleaded gasoline averages $3.95, which is down $.25 from last month and $.28 lower than last year's price-per-gallon.
  • In DuPage County, Ill., self-serve regular unleaded gasoline averages $3.79 per gallon, which is a 24-cent decrease from May and down $.24 cents from last year.
  • In Kane County, Ill., self-serve regular unleaded gasoline averages $3.78 per gallon, which is down $.23 cents compared to last month and $.21 lower than June 2011's price.
  • In Lake County, Ill., self-serve regular unleaded gasoline averages $3.79 per gallon, which is $.21 cents lower than last month and down by $.22 compared to this time last year.
  • In McHenry County, Ill., self-serve regular unleaded gasoline averages $3.78 per gallon, which is $.21 cents lower than last month's average and $.23 lower than June 2011's price.
  • In Will County, Ill., self-serve regular unleaded gasoline averages $3.74 per gallon, which is $.26 cents lower compared to last month and $.25 lower compared to last year.
  • In Champaign County, Ill., self-serve regular unleaded gasoline averages $3.49 per gallon, a decrease of $.13 cents from May and a decrease of $.24 from last year.
  • In McLean County, Ill., self-serve regular unleaded gasoline averages $3.51 per gallon, which is $.16 cents lower than last month and $.24 lower than last year.
  • In Peoria County, Ill., self-serve regular unleaded gasoline averages $3.60 per gallon, which is down $.12 compared to last month and down $.18 from June 2011.
  • In Sangamon County, Ill., self-serve regular unleaded gasoline averages $3.48 per gallon, which is $.15 cents lower than last month and $.15 lower than last year.
  • In Winnebago County, Ill., self-serve regular unleaded gasoline averages $3.61 per gallon, a decrease of $.13 cents from May and $.24 lower than June 2011.
  • In Allen County, Ind., self-serve regular unleaded gasoline averages $3.56 per gallon, which is a decrease of $.21 cents from last month and $.13 lower than June 2011's price.
  • In Lake County, Ind., self-serve regular unleaded gasoline averages $3.65 per gallon, a 23-cent decrease from May's average and a $.16 decrease from a year ago.
  • In Porter County, Ind., self-serve regular unleaded gasoline averages $3.64 per gallon, which is $.25 cents lower than last month and $.14 lower than last year.
  • In St. Joseph County, Ind., self-serve regular unleaded gasoline averages $3.60 per gallon, which is $.19 cents lower compared to last month and $.12 lower compared to last year.

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