Gas Prices Continue To Drop, Could Keep Falling
CHICAGO (CBS) -- Gas prices normally spike during the summer driving season, but this year they have been plummeting.
As of Monday morning, the average price of a gallon of gas in Illinois was 32 cents cheaper than a month ago, according to the AAA Motor Club.
That's the third largest month-over-month drop across the nation.
According to GasBuddy.com, the Chicago area average on Monday was about $2.78.
Industry analyst Trilby Lundberg said she expects prices to go even lower.
"Crude oil prices are down dramatically, and U.S. refiners are putting out gasoline at near-maximum rates," she said. "Unless crude oil prices jump back up, I think we'll see another dime or more in the near future."
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Prices in the Chicago area range from $2.40 in some suburbs to more than $3.50 at some stations in the city.
The AAA projected, by year's end, prices could reach about $2 per gallon in some places.
