No Relief In Sight For Memorial Day Gas Prices

CHICAGO (CBS) — How much worse will it get for Chicago drivers?

Over the last week, gas prices have jumped just over 17 cents a gallon. And analysts predict the prices will rise into the summer months.

As CBS 2’s Pamela Jones reports, drivers are shuffling their budgets to make room for the gas price hike.

For Nicole Turner, driving to Florida with her husband and the kids was enough of a challenge. Then, there’s the cost of filling up the minivan.

“We had to stop and fill up at least three or four times, like three times on the way down and that was like 70 bucks a pop. And that was a lot of money,” Turner said.

She and a lot of others hitting the road are struggling to find ways to make the pinch at the pump less painful on their pocketbooks.
It means: “Not as many trips to the movies. Not as many extra clothes or accessories,” Turner said.

“It means cutting down on everything… that I could afford,” said cab driver Akoma Amanze.

He’s a husband with three kids. He counted very little cash left over after he paid for gas today.

Right now, drivers are shelling out $4.27 a gallon for regular unleaded in some places; $4.49 for premium.

Analysts say drivers will only see prices go up from here.

Jackie See helps families manage their budgets through her company, Family Credit Management in Oak Park. She says one good trick is to use cash at the pump instead of credit. She says it forces you to think about how much you’re spending, and stay away from things you don’t need like candy or other treats.

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  • Karen Kasprowicz

    I find it amazing that the gas stations near my home had been selling gas for $3.89 a gallon the afternoon before the story about analysts predicting $5.00/gallon gas byMemorial Day and the next morning they had kicked it up to $4.05. All of these analyst’s predictions are just giving these money grubbing gas companies an excuse to raise prices.

    • Suerosenorn

      Everyone knows theres no shortage of gas. The monopoliies can get away with gouging so they do. People need to protest but are too lazy.

  • Jim

    Speculators get rich by manipulating prices ( no supply and demand issue here). Every time an Arab leader stubs a toe the speculators say that oil “might” be disrupted so they have to raise prices. Of course our politicians won’t do anything about it because they have a vested interest in gas going up (their personal investments and taxes going up).

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