Reporting Pamela Jones
CHICAGO (CBS) — Some good news about Chicago prices: They keep dropping.
Right now Triple A says the average price is $4.24. A week ago that was $4.29 and a month ago $4.25
CBS 2′s Pamela Jones is reports those prices are expected to keep dropping.
Head shaking disgust.
That’s what drivers filling up are feeling even though surveys say gas prices are falling.
“Not here. Where? Show me. I’ll be happy to go there,” said Chris Temple.
He paid a premium price for the regular stuff at DesPlaines and Taylor, $4.39.
“It’s ridiculous,” said Temple.
But experts say driving around and shopping around can help. At 56th and Western, gas was $3.79.
I’ve been driving past with all the gas stations, and I’m like, wow it was amazing to me,” said Rapheal Robinson.
It won’t be like “free gas”, but over the next several weeks prices will trickle down.
A market analyst with Morningstar says it’s partly because of lower demand.
“Right now, it’s kind of that perfect storm. We have less demand than we’ve had historically for gasoline so really what that means is that we have inventory building up,” said David McColl of Morningstar.
According to Triple A Chicago, most drivers here won’t see $3.60 anytime soon.
The last time average prices dropped that low in the Chicago area was January 21 of this year.
Triple A says maintenance at two out of three local refineries is squeezing supply and keeping Chicago gas prices higher than much of the rest of the country.
It has drivers wiggling every drop they can from the pump to get their money’s worth.