More Expensive Oil Raises Illinois Gas Price Average Higher

CHICAGO, Ill., (July 31, 2023) — Illinois gas prices jumped 20 cents from a week ago. Illinois drivers are paying an average price of $4.00 per gallon for regular unleaded gasoline. This is the highest daily average since mid-April when the price was at the 2023 high of $4.10.

"Oil prices are the primary culprit behind the recent jump at the pump," said Molly Hart, spokeswoman for AAA - The Auto Club Group. "The U.S. price of oil rose 15% through the past five weeks, which raised the cost of producing gasoline."

Earlier this month, when gas prices were lower, the U.S. price of oil traded at around $70 per barrel. On Friday, the price of oil settled at $80.58 per barrel.

According to our partners at the Oil Price Information Service (OPIS), prices are being sent higher by strong economic data, which raises expectations for fuel demand. Additionally, record-breaking heat has led to some refinery outages along the Gulf Coast, leading to reductions in fuel output. The latest data from the U.S. Energy Information Administration shows refinery operations in the Gulf Coast last week at 93.3%. That's down 1.5 percentage points from the previous week and significantly lower than the 97% rate refineries were operating at last year.

Click here to view current gasoline price averages

Drivers can find current gas prices using AAA.com/FuelFinder which allows consumers to compare gas prices at retailers by city or zip code.

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Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.