Chicago Gas Prices Reach Historic February High

City gas prices rose for the past 31 straight days, according to AAA.

By Anthony Ponce
|  Monday, Feb 18, 2013  |  Updated 8:09 AM CDT
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Chicago Gas Prices Reach Historic February High

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The pain at the pump isn't over yet in Chicago.

Not only has the Chicago average for a gallon of gas once again surpassed the national average, but according to AAA, city gas prices have gone up every day for the past 31 straight days.

Here's how it breaks down as of Monday: The national average is $3.71 per gallon whereas Illinois' average is at $4 and Chicago is $4.08. The city is up 40 cents from this day last month, a historic high for this time of year.

Analysts say oil prices have stayed high in part because Saudi Arabia has decided to reduce its output
and because a handful of major refineries have shut down for maintenance.

The good news? Most analysts don't expect prices to continue to rise because supply is ample and demand is pretty much flat. That means 2013 hopefully won't be as bad as 2012
 
Chicago gas prices hit a record last May when AAA reported regular unleaded gas hit an average of $4.67 a gallon in the city and $4.51 in the suburbs.
 

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