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Gas Prices Down Slightly From Record High

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Gas Prices

Gas prices are dropping across the Chicago area, but remain highest in nation. (Credit: CBS)

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CHICAGO (CBS) — It may not sound like much, but even a few pennies makes a huge difference with gas prices this high.

As CBS 2’s Kris Habermehl reports, gas prices have fallen off slightly from the Chicago area record of $4.67 per gallon, set a week ago Tuesday. The figure is now $4.65, down 1 1/2 cents from last week.

In the suburbs, the price fell to $4.45 per gallon, down 5 cents from a week ago.

So why are the gas prices so high? Industry experts cite Middle East tensions, pipeline disruptions, refinery problems, and now, the seasonal switch to the pricier summer blend.

In the Chicago area, the average price per gallon is 56 cents higher than it was at this time last year.

ChicagoGasPrices.com reports the lowest price found in the Chicago area Tuesday was $4.17, found at the Speedway at 18002 S. Halsted St. in Homewood, the Sam’s Club at 21430 S. Cicero Ave. in Matteson, the Murphy USA at 19141 S. Halsted St. in Glenwood, and the Delta Sonic at 18225 S. Halsted St., also Glenwood.

The highest price of $4.79 was found at more than a dozen stations across Chicago.

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