Yep, gas prices in the suburbs are back over $4 a gallon, with some exceptions
It's enough to make you nostalgic for the good old days of last week when regular gas cost an average of $3.80 a gallon in Illinois.
As of Monday, rates averaged $4 a gallon statewide, the highest this year since $4.10 in mid-April, AAA reported.
It's worse in the Chicago metro area, where prices are hovering around $4.22 a gallon, although some bargains are still available.
For example, a Shell station on Irving Park Road in Hanover Park was charging $3.79 Monday afternoon, according to GasBuddy.
"Oil prices are the primary culprit behind the recent jump at the pump," AAA spokeswoman Molly Hart said. She noted the price of oil spiked 15% in the past five weeks, and that's reflected in production costs.
Asked how long the pain will last, "I wish I had that crystal ball," Hart said. "A large part of the increase is due to the extreme heat and crude oil prices."
Gas demand, meaning people fueling up, remains tepid, Hart said. While the heat may be keeping some folks home, it also suppresses refinery production, according to experts. So the constrained supplies and higher cost of oil are tipping the balance toward rising pump prices for now.
Across the region, gas costs varied widely. At a Shell station on Ogden Avenue in Downers Grove, a gallon of regular was $4.20 Monday afternoon, while a 7-Eleven/Mobil at Algonquin and Randall roads in Algonquin charged $4.14, Daily Herald reporters found.
A Speedy station on Milwaukee Avenue in Buffalo Grove listed gas at $3.79, according to GasBuddy.
AAA reported that the U.S. price of oil traded around $70 a barrel earlier in July, but that increased to $80.58 on Friday.
One reason is stronger economic growth that's anticipated to spark fuel demand. Also, excessive heat caused some refinery outages in the Gulf Coast.