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2012 record year for gas prices

Tue, 25 Dec 2012 04:20:29 CST
By: IPR

2012 record year for gas prices 2012 is on track to be the year in which the average price for a gallon of gas was the highest ever, both nationwide and in Illinois. That projection comes from the gas price tracking website GasBuddy-dot-com. And it comes even though gas prices have fallen about 20 cents per gallon in the past month. GasBuddy analyst Patrick DeHaan says fluctuations in gas prices are somewhat seasonal. He says demand for gasoline is usually lower in December, causing prices to drop, only to rise again in the spring when demand rises:

   

"We have just two different factors. One works in our favor and one does not. And so far, the trend this time of year is, there's falling gasoline demand, and that simply means a rise in gasoline inventories and a drop in retail price. In the springtime, itís the opposite."

But DeHaan says that overall in 2012, the year-round average price of a gallon of gas is expected to be 3-dollars-63 cents a gallon nationwide, and 3-79 a gallon in Illinois. DeHaan says the Illinois average price is affected by sales in the Chicago area, where prices are higher than downstate.
   

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