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Will the increase in gas prices last through July 2024?

According to GasBuddy chief analyst Patrick DeHaan, fuel prices have been rising gradually but steadily across the nation, and East Central Illinois is no different.

 

Gas prices are predicted to fall 10% this summer | Fox Business
Gas prices are predicted to fall 10% this summer | Fox Business

Prices have been increasing in the Champaign County area since January, when they were $2.80 a gallon on average.

 

On July 1st of this year, prices were eight cents cheaper on average than they were on July 1st of the previous year, and significantly lower than the $4.92 per gallon cost in 2022.

Why Is Gas So Expensive at Certain Times of Year? | HowStuffWorks
Why Is Gas So Expensive at Certain Times of Year? | HowStuffWorks

According to DeHaan, prices will gradually rise through July, but as the summer heat builds, drivers should also brace for more significant rises.



READ MORE: Canucks to Recieve Record-Breaking Rebates of Over 20,000 iZEV in May 2024



“We’re reminded that fuel prices could see some jolts in the second half of the summer should a storm threaten refining capacity in Texas or Louisiana,” DeHaan added, referring to Hurricane Beryl’s current formation in the Caribbean.

When will gas prices stop rising? Experts weigh in - ABC News
When will gas prices stop rising? Experts weigh in – ABC News

If you’re looking to save a few pennies for summer travel, several fuel stations around Champaign are the second-cheapest.

But the Road Ranger in Tuscola consistently has the lowest gas prices in this area.

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