Today’s fuel price musings - Prices still dropping, with plenty of room to fall

October 6th, 2008 at 11:22am Thomas V. Bona

Gas prices are the lowest since April, and there are plenty of signs they’ll keep going down, especially up here in northern Illinois. Oil prices dropped below $90 a barrel for the first time in eight month, though the big holdup in the Southeast and Midwest is that half of the infrastructure in the Gulf of Mexico is still shut in after Hurricane Ike. Until that all comes back online, bringing gasoline supplies to this area back to normal, we’ll still have somewhat of a premium up here. 

Here are the prices (as always, courtesy of AAA’s fuelgaugereport.com):

Gasoline: Rockford dropped more than three cents to $3.60 a gallon. We have the fourth-highest gas prices in the state. The Illinois average dropped more than a cent to $3.67. The national average dropped two cents to $3.50. Illinois has the sixth-highest gas prices in the nation.

Diesel: Rockford gained a cent to $4.01 a gallon. We have the sixth-highest diesel prices in the state. The state average dropped a cent to $4.14. The national average dropped two cents to $4.02. Illinois the ninth-highest prices in the country.

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