Average Rockford gas prices rise slightly. Here’s what to expect before Thanksgiving

November 8, 2021|By Kevin Haas|In Local, Rockford, Trending
By Kevin Haas
Rock River Current
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ROCKFORD — Gas prices in the city are up a little more than one cent per gallon in the past week, averaging $3.47 per gallon, according to GasBuddy’s survey of 139 stations in Rockford.

That’s about two cents higher than a month ago and $1.29 per gallon more than this time last year. The per gallon price is at its highest level for Nov. 8 in a decade, according GasBuddy.

The national average price of gasoline is $3.41 per gallon today, up nearly two cents from last week.

There could be small decreases in prices this week, according to a GasBuddy analyst, but there are no major swings in prices expected in the runup to the Thanksgiving holiday.

“Last week saw oil prices briefly fall back under $80 for the first time in weeks. While it wasn’t enough to provide much relief last week, we should see small declines this week in a majority of the country, thanks to the corresponding drop in wholesale gasoline prices,” said Patrick De Haan, head of petroleum analysis for GasBuddy, in a news release.

The Organization of Petroleum Exporting Countries agreed last week to stick to the small increases in production they previously set in July, which raises November production by about 400,000 barrels per day.

“With President Biden still mulling over options to help push gas prices down, we could continue to see some volatility in oil prices,” De Haan said. “I don’t immediately see a large decline or surge coming in the runup to Thanksgiving, but U.S. gasoline demand does remain strong. Levels are currently rivaling September demand, so we know high prices aren’t significantly curbing consumption.”

Nov. 8 gas prices going back 10 years

2020: Rockford $2.17/g; U.S. $2.09/g
2019: Rockford $2.55/g; U.S. $2.63/g
2018: Rockford $2.73/g; U.S. $2.72/g
2017: Rockford $2.66/g; U.S. $2.56/g
2016: Rockford $2.07/g; U.S. $2.20/g
2015: Rockford $2.29/g; U.S. $2.22/g
2014: Rockford $2.98/g; U.S. $2.93/g
2013: Rockford $3.17/g; U.S. $3.20/g
2012: Rockford $3.42/g; U.S. $3.46/g
2011: Rockford $3.43/g; U.S. $3.41/g

Rockford gasoline prices have risen 1.3 cents per gallon in the past week, averaging $3.47 per gallon, according to GasBuddy. (Photo illustration by Canva.com)

This article is by Kevin Haas. Email him at khaas@rockrivercurrent.com or follow him on Twitter at @KevinMHaas.