GasBuddy reports increase in gas prices

Local News

(Getty images)

CHAMPAIGN, Ill. (WCIA) — GasBuddy reported Monday that Champaign gas prices have risen 15.5 cents per gallon in the past week, averaging $3.24 per gallon today.

According to GasBuddy price reports, the cheapest station in Champaign is priced at $2.79 per gallon today while the most expensive is $3.35 per gallon. The lowest price in the state today is $2.86 per gallon and the highest is $3.99 per gallon.

Officials said the current national average price of gasoline has gone up to $3.18, which is up 1.3 cents from last week and up 1.8 cents per gallon from a month ago.

“Gas prices have been stuck in somewhat of a limbo and remain near 2021 highs long after Hurricane Ida has dissipated. The damage done to oil production has been left behind and so far has prevented prices from resuming their seasonal decline,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Ida caused the loss of over 30 million barrels of oil production in the Gulf of Mexico, and with gasoline demand remaining relatively high for the season, oil inventories remain relatively tight, preventing any organized decline in gas prices for the time being. As a result, we may have to wait a couple more weeks until hurricane season slows for oil inventories to start to rise and gas prices to fall.”

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.