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Gas Prices Rapidly Rise in Chicagoland

Some Grayslake area stations are charging more than $4 per gallon for gas.

AAA Chicago is saying that refinery problems in Illinois and Indiana are behind gas price increases that took the cost to more than $4 a gallon in the Chicago area, some as high as $4.18 in the Grayslake area, according to the State Journal Register.

According to Motortrend.com, the cheapest gas you’ll find in the Grayslake area as of late Thursday is $3.69 at the Mobil at Route 45 and Center Street. While gas prices are rising nationwide, gas prices in Illinois are rising at a rapid rate, nearly 40 cents more per gallon in the past week, according to GasBuddy.com.

Nationwide, gas prices have risen from an average of 3.32 per gallon of regular to $3.53 per gallon of regular in the last month, according to AAA.

"Illinois, Indiana and states in the Midwest have seen prices rise since last week due to production issues at the BP refinery in Whiting, Ind. and the Citgo refinery in Lemont," Beth Mosher, director of public affairs for AAA Chicago said in a news release. "With the supply from these refineries impacted, and the associated increase in wholesale prices already seen in the region, there is reason to suspect that prices in the areas supplied by these facilities may continue to rise until the situation is resolved."

Nationwide, prices are rising due to corn prices which have caused ethanol costs to increase about 17 percent in July, according to a story in Huffington Post.

Gas prices rise four times faster than they fall after the wholesale price changes, according to a 2010 Federal Trade Commission (FTC) study. USA Today says that, according to the study, some retailers sell at a loss when wholesale prices are high and try to make up for it when prices go down.

AAA said prices should begin to decline again after Labor Day.

Local August 03, 2012 at 04:40 PM
The truth must really hurt the Patch moderators fragil feelings to delete that last comment...censorship at its finest!!!!
Nightcrawler August 03, 2012 at 07:11 PM
How about an editor contact each gas station throughout any given week as soon as they see a price change or hike, and ask the onwer why they raised the price. When other nearby stations follow suit and raise their prices, call and ask them the same question. I GUARANTEE you there would be differing answers. There has to be ONE reporter or ONE editor with the courage to do this. Please? It would probably win a Press award if done properly.
Nightcrawler August 03, 2012 at 07:13 PM
Then report the results and quotes to the public. Let everyone see just what is really going on. It's much like how newspapers used to cover village board meetings, now that is scarce at times in some towns. While it is a reporter's job to be fair and balanced, it is also incumbent upon them to stop reporting fluff all the time and start occasionally asking the difficult questions too. Just a suggestion, one I sincerely hope Patch strongly considers.
Angela Morrey August 03, 2012 at 07:25 PM
Thank you Steve for those suggestions and we will consider them.
JoAnn LaPorta August 04, 2012 at 02:31 PM
Its funny that gas pump I just filled up at doesn't contain ethanol but they are saying its the reason for the price hike!?! I don't understand how prices can go up if it doesn't contain what supposedly caused the part of the hike.

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