Gas Prices Expected To Drop By Memorial Day
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"This will be the most expensive driving season since 2014," said Tom Kloza, global head of energy analysis for Oil Price Information Service.
They're reaching levels not seen since 2015.
In the past week, the average price for a gallon of regular unleaded in Chicago has dropped by about 7.5 cents.
Gas prices are now the highest of the year, so far - $2.50 a gallon in Illinois and Indiana.
An analyst at GasBuddy says we could see prices spiking to the highest they've been in two years possibly by Tuesday afternoon.
According to Gasbuddy.com, the average price of a gallon of gas is lower than any July 4th weekend since 2005.
It may not even be March yet, but summer-blend gas prices are here. The area has reached the beginning of the end of the cheap gas price season.
Oil prices have surged because traders believe OPEC is finally addressing an oil glut that has depressed prices for the past two years.
Gasoline prices rose a tick in the past week, but still are much lower than recent years.
The Brexit vote has sent gas prices into a slide in Chicago and the rest of the United States.
Patrick DeHaan, senior petroleum analyst at GasBuddy.com, said the increase is due, in part, to refinery maintenance, which will take longer than expected.
Massachusetts gasoline prices have jumped 4 cents in the past week to an average of $2.12 for a gallon of self-serve regular.
With gasoline prices plummeting in the Chicago area, how far can you go with $50 in your pocket?
With crude oil prices down again on Monday, gas prices at the pump likely will continue dropping.
Drivers are enjoying some of the lowest prices at the pump in years, but as CBS 2's Vince Gerasole reports it comes at a price.
With gas prices at lows we haven't seen in seven years, one analyst said drivers should buy now, because prices are likely to go back up soon.
While motorists around Chicago are well aware of plummeting gasoline prices, the average cost of a gallon of petrol is actually below the national average.
Gas prices have been steadily declining in Chicago for the past few weeks, reaching the lowest levels seen in years, and one industry expert said the bottom will continue to drop.
The average price of a gallon has fallen about 11 cents in the last week and drivers are loving it.
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Chicago cab driver Tony Liauppa is doing well these days.
Even with crude oil prices inching up a bit on Wednesday, Chicago area gas prices have been tumbling.
Repairs at BP's Whiting, Ind., refinery sent gas prices plunging last week across Chicago and nationwide, the biggest single-week drop this year.
Patrick DeHaan, senior petroleum analyst at GasBuddy.com, said Chicago area drivers can expect to see prices fall by up to 50 cents in the next couple weeks, after BP confirmed it has reopened the crude distillation unit that went offline on Aug. 8.
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Tsering Wangyal, 82, was last seen around 3:30 p.m. Monday in the area of the 9500 block of Bronx Place, Skokie police said.
The 11-year-old, along with another girl, 15, and two boys, 14 and 16, were arrested on Tuesday in the 7000 block of South Cottage Grove Avenue.
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The tornadoes and severe storms that walloped the Chicago area on Sunday and Monday were stunning in their ferocity and breadth.
The DNC sent a letter to the convention rules committee saying that "no virtual voting will begin before August 1."
Tiffany Henyard was accused by board members of keeping certain items off the agenda Tuesday night—including an ordinance that board members say would cap spending by the supervisor.
President Biden is considering proposals to reform the Supreme Court, CBS News has learned.
Meanwhile in Milwaukee Tuesday, at a breakfast for the Illinois RNC delegates, CBS News Chicago asked leaders about the somewhat significant divide between Vance and Trump.
Sen. Bob Menendez tried to shift the blame to his wife, Nadine Menendez, but was found guilty on all 16 felony counts for a scheme involving bribery and business favors.
As of Tuesday evening, a total of five tornadoes had been confirmed in the Chicago area from the storms Monday night and six Sunday night.
The tax is up just 2 cents compared with Sunday. But it is quite a jump compared with the Illinois gas seven years ago.
One third of Chicago's roughly 400 new car dealers are using pen and paper to complete deals.
The family asked CBS 2 for help after they found themselves stuck with random stuff and boxes filling their space—and nowhere else left to turn.
The gas hike approved in November was the largest gas utility rate hike in Illinois history.
Lisa Gee's experience taught her the life-saving importance of organ donations for thousands of patients.
Keisha House said people trust their hairdressers and barbers, and great communication takes place while in those chairs.
The FDA found even some products that claimed to be "sterile" were contaminated.
Under state law, all children living in a high-risk ZIP code must be tested for lead exposure at 12, 24, and 36 months of age.
Shane Butler said he was grateful to be alive, and he owes it all to the safety training he did exactly one year before he accidentally shot himself.
Bally's took possession of the River West property July 5.
The plant, which was indefinitely idled in February 2023, is expected to reopen next year.
Fiscal Year 2024 saw total cannabis sales exceed $2 billion, which exceeded the figures for Fiscal Years 2023 and 2022.
Kroger owns the Mariano's brand, while Albertsons owns Jewel-Osco.
The DNC arrives at the United Center from Aug. 19-22.
Nominations for the 76th annual Emmy Awards were announced Wednesday, with "Shōgun," "The Bear," "Hacks" and "Baby Reindeer" all earning multiple major nods. See the full list of nominees for the 2024 ceremony here.
"Big Brother" announced Tuesday the 16 new Houseguests who will move into the "Big Brother" house and, for the first time ever, have the power to vote in a 17th houseguest.
After many people criticized Andress' rendition of the National Anthem online, comparing her with Fergie, the singer says she's going to rehab.
Shannen Doherty had been battling cancer since 2015.
Richard Simmons devoted his life to making people sweat with his "Sweatin' to the Oldies" workout videos.
The rapper took to social media to post images of his water-logged $100 million mansion. Within a few hours, the city of Toronto experienced more than a month's worth of rain, causing widespread damage.
ComEd officials confirmed on Wednesday morning, I-55 is set to reopen Thursday morning after storms downed power lines closed the expressway. The wires are expected to be removed from the roadway by midnight.
Meteorologist David Yeomans has a look at the extended forecast.
Night 3 of the Republican National Convention puts former President Donald Trump's vice presidential pick in the spotlight. U.S. Sen. JD Vance will speak to the national audience from the podium in Milwaukee. Vance needs to not only win over the delegates, but he needs to convince Republican voters that he's the best person for the VP role.
Recently Nationwide Insurance announced it will drop 100,000 pet insurance policies over the next year, citing rising vet costs as a major reason. Vet services rose by more than 6% from June OF 2023 and 2024, according to government data tracking inflation.
The National Weather Service on Tuesday was investigating 29 potential tornado tracks. So far, 17 tornadoes have been confirmed.
For Monday night, 11 individual tornadoes have been confirmed so far.
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The tornadoes and severe storms that walloped the Chicago area on Sunday and Monday were stunning in their ferocity and breadth.
Tsering Wangyal, 82, was last seen around 3:30 p.m. Monday in the area of the 9500 block of Bronx Place, Skokie police said.
Former Secret Service agent McCarthy said security for both conventions is now even under more scrutiny since the assassination attempt on former President Trump.
The department has now confirmed they will be providing emergency medical support both inside the secure perimeter that will be going up around the United Center.
Data show the 4th of July has historically been one of the deadliest days of the year.
The former University of Illinois football player had been hired at Aunt Martha's despite having a criminal conviction on his record.
Two battalion chiefs told CBS 2 Investigators said hiring needs to be a priority for the Chicago Fire Department, and they plan to protest their working conditions.
Chicago led 42-21 at the midway point of the second quarter and held the advantage until Megan Gustafson made a 3-pointer from the corner with 8:16 remaining in the fourth to give the Aces their first lead of the game at 72-71.
Williams was the No. 1 overall pick in last April's draft as Odunze was picked No. 9 overall to add to a revamped offense.
Joe "Jellybean" Bryant, a former Philadelphia 76ers and La Salle University basketball great and the father of the late, NBA legend Kobe Bryant, has died. He was 69.
The QB wasted no time showing off his arm as he literally passed his Caleb Cares Hero awards to recipients, or receivers, in the crowd.
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Sen. Bob Menendez tried to shift the blame to his wife, Nadine Menendez, but was found guilty on all 16 felony counts for a scheme involving bribery and business favors.
The search for a new police chief is now underway in the Village of Robbins after Scott was relieved of his duties after just 15 months on the job.
Jennifer Lee Wilson, 48, was apprehended Saturday evening in New Buffalo Township, Michigan, according to the Berrien County, Michigan Sheriff's office.
Late Sunday, no one was in custody. Harrison Area detectives are investigating.
Former President Trump was injured in a shooting at a rally in Butler, Pennsylvania. The FBI has identified the gunman as 20-year-old Thomas Matthew Crooks.