gas prices

Gas Prices Drop for 8 Consecutive Weeks, Trend Could Continue

The current average price of gas per gallon in Chicago is $1.97 and it could continue to drop

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The lower gas prices Chicagoans have been seeing over the past two months are likely part of a larger downward trend.

According to GasBuddy, a company that tracks gas pricing for an app, the lack of commuting and minimal travel gives far less of a need for gas and is driving these numbers.

Patrick DeHann, Petroleum Analyst for GasBuddy, said that oil companies do not decide where the price is set.

"I will say that obviously when demand starts to go back up, prices will increase a little bit, but we are in uncharted territory," DeHann said. "This is something that will affect us for months now."

DeHann said the fact that oil prices have now hit negative numbers is something that's never happened before and it hasn't set in for many people.

Currently, Chicago's average price per gallon sits at $1.97, whereas across the United States it is $1.69, according to GasBuddy.

In Indiana, the BP Refinery is operating at two-thirds capacity and storage will become an issue soon, according to DeHaan.

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