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Gas prices highest ever for this time of year



Gas prices in Illinois are at the highest they've ever been for this time of year.

Triple's A's Fuel Gauge Report is forecasting an average of $3.51 a gallon for the month of January, up 29 cents from last year.

Spokesperson Beth Mosher says it's all about oil prices and demand. "Oil prices have been up and down, and demand has been way down from where it usually is."

Mosher continues, "We've had some unfortunate action in Iran and the Middle East which has pushed oil prices up."

Mosher says demand is usually down at the end of the holiday season but more so this year. "Last year we also had the highest for January ever," says Mosher. "So, prices last January were very, high but unfortunately nothing compared to what we've seen now for time of year."

The average price of a gallon of regular unleaded in the Peoria-Pekin area is $3.32 -- up 18 cents from a year ago.


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Topics: Business_Finance
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Locations: IllinoisMiddle East
People: Beth Mosher