Illinois May Have To Pay Almost $5.00 Average Gallon Of Gas Soon

Let's just learn to ride a bicycle.

It's a particularly important year to keep track of the logistics of your spring/summer travels. If you're flying, it could take you an hour (or two, or three) in the TSA line. If you're driving, you may have noticed, as my best friend put it: "it just doesn't seem to gas the same way".

That could be due in part to the increasing cost.

The AAA's average price per gallon as of today in Illinois is $4.26. We know gas in Illinois is pricey but this is the most expensive it's been in the state since 2022 (Russia's invasion of Ukraine).

But that average price isn't trending down. It's already a quarter more expensive than it was just last week and a dollar more expensive than last month.

Gas in Illinois is among the most expensive in the country and in the Chicago metro, gas is about $4.47 average.

What Exactly The Problem Is

Since February 28th, when the U.S. and Israel launched a war on Iran, the cost of crude oil (the main ingredient in gas) has gone way up. There's been supply chain disruption, like stopping oil tankers from going into the Strait of Hormuz (where about one-fifth of the world's oil sails from). Also there have been cuts from major oil producers in the Middle East.

There's also grounded cargo ships and planes.

So How Bad Is It Gonna Get?

Basically, if the stuff in Iran keeps going on, it's going to get worse. The Strait of Hormuz is still closed off at the moment.

It's not clear if this effort will help us at the gas pump but the International Energy Agency has pledged 400 million barrels of oil from stockpiles to member nations, which includes the U.S.

Gas prices generally increase in summer anyway so there's a good chance it will get worse before it gets better.