Gas prices continue record drop

Posted on January 6, 2015

Gas prices have dropped nationally for a record 102 conseutive days. (Photo by MikeMozart/flickr)

By Jim Anderson/Illinois Radio Network

CHICAGO – The price of gas in Illinois is plummeting.
 
It has fallen so far, so fast that it’s actually below the national average of $2.19 per gallon, which has fallen for a record 102 consecutive days. The Illinois statewide average is $2.11, according to the AAA Fuel Gauge Report. That’s a drop of 65 cents from last month ($2.76), and $1.28 from a year ago ($3.39).

Prices at Bloomington-Normal service stations have fallen to as low as $1.93 per gallon.
 
AAA spokesman Beth Mosher says there’s no reason to think this is temporary. “We can expect to see prices rise when demand rises for the summer, but we don’t think that for 2015 we’re gonna go back to some of those awfully high prices that we have seen last year and the year before,” she said.
 
The falling price of crude oil is the main factor here. Production is high around the world, and demand is not keeping up, as cars become more fuel efficient.

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