Gas prices fall 5 cents per gallon in Rockford

From news reports
Rock River Current
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ROCKFORD — Gasoline prices across the city have fallen about 5 cents per gallon in the past week, according to GasBuddy’s survey of 139 stations’ prices.

The average cost of fuel is $3.36 today, about 16 cents per gallon higher than a month ago and nearly 78 cents higher than a year ago.

GasBuddy reports the cheapest station in the city sold at $3.05 per gallon on Sunday while the most expensive was $3.50 per gallon. The lowest price in the state Sunday was $2.95 per gallon while the highest was $4.39 per gallon.

Related: $4 per gallon gas could arrive by spring

The national average price of gasoline has risen nearly 3 cents per gallon in the last week, averaging $3.34 today, according to GasBuddy. The national average is up nearly 7 cents per gallon from a month ago and stands nearly 93 cents per gallon higher than a year ago, according to GasBuddy, which compiles data from more than 150,000 gas stations across the country.

“The price of oil pushed into territory unseen in over seven years as WTI crude hit $88 per barrel, which continues to drag gasoline prices higher. With continued concerns over geopolitical tensions and crude oil supply, the small yet noticeable increases are likely to continue,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in a news release. “The only factor keeping gas prices from rising more substantially is that gasoline demand remains low as winter storms keep motorists closer to home. Once the weather starts to turn and warm gradually, we’ll lose the only restraint to larger price increases.”

Historic gas prices for Jan. 31

Year | Rockford | National 

2021: $2.58 | $2.42
2020: $2.44 | $2.47
2019: $2.12 | $2.27
2018: $2.58 | $2.59
2017: $2.21 |$2.27
2016: $1.65 | $1.80
2015: $2.06 | $2.05
2014: $3.29 | $3.27
2013: $3.52 | $3.43
2012: $3.41 | $3.44
Source: GasBuddy