Gas Prices Expected to Keep Going Up Memorial Day Weekend

Prices have increased 10 cents a gallon the past two weeks and they’re expected to keep going up Memorial Day weekend.

A gallon of regular on Addison at the Edens Expressway is $3.25 — that’s just above the average in Chicago.

The national average is $3.

According to Gasbuddy.com, overall, this is the highest gas prices have been since 2014.

“Just outpacing the prices we saw in 2015 with that BP refinery outage that I’m sure everyone remembers prices went up instantly overnight,” said Gasbuddy’s Senior Petroleum Analyst Patrick DeHaan.

DeHaan says drivers are paying more because oil supply is down and demand is up.

“Up about 2.9 percent,” he said. “It would surprise me in this strong economy with unemployment down to see consumption down.”

Naperville however, reports its gas tax revenue is down 6 percent in the first quarter of 2018.

Experts believe gas prices in Chicago could creep up close to $4 a gallon and that they will likely stay well above $3 all summer.

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