(WBBM NEWSRADIO) — It's not your imagination, gas prices are on the rise across Chicagoland.
In fact, Patrick De Haan — the head of petroleum analysis at Gas Buddy — said prices have jumped about 13 cents in just a week.
“We are at $4.17 a gallon today,” he said on Monday. “Prices [are] now at their highest level in Chicago since November of last year.”
De Haan said several factors are driving the increase.
“Oil prices have jumped 20% over the last four weeks as OPEC has surprisingly cut oil production,” he said. “In addition, we are making the transition to reformulated gasoline in the Chicagoland area.”
Although De Haan expects the average price of gasoline to increase, he said some relief could be in sight.
“Prices tend to moderate throughout the summer,” he said. “We are on the normal seasonal trajectory. Prices spring up in the spring, and they usually fall for much of the rest of the summer driving season.”
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