Rockford gas prices up 13 cents in past week; summer could see ‘record territory’

From news reports
Rock River Current
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ROCKFORD — Gasoline prices across the city increase more than 13 cents per gallon over the past week to an average of $3.49 per gallon today, according to GasBuddy’s survey of 139 stations.

Nationally, GasBuddy’s head analyst predicts we could see record prices by summer.

Prices here are nearly 17 cents per gallon higher than a month ago and almost 88 cents per gallon higher than a year ago.

The cheapest station in Rockford sold fuel at $3.19 per gallon Sunday, while the most expensive was $3.59. The lowest price in the state Sunday was $3.17 per gallon and the highest was $4.49, according to GasBuddy.

The national average price of gasoline rose 8 cents per gallon in the last week to an average $3.42. That is up 12 cents per gallon from a month ago and 97.5 cents per gallon higher than a year ago, according to data from more than 150,000 gas stations across the country.

“Gas prices saw their sharpest rise in months last week as oil surged to $93 per barrel on continued concerns over Russia invading Ukraine and that there won’t be enough supply to meet demand come this summer,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in a news release.

“With the national average at its highest level since 2014, the news is grim: motorists should expect even more price increases, with the larger jumps coming later this spring as a confluence of seasonal factors and the potential flare up in geopolitical tensions,” he said. “Ultimately, the national average could be pushed to record territory by the start of the summer driving season.”

Historic fuel prices

Year | Rockford average | U.S. average
2021: $2.61 | $2.45
2020: $2.43 | $2.43
2019: $2.23 | $2.30
2018: $2.57 | $2.60
2017: $2.19 | $2.26
2016: $1.57 | $1.74
2015: $2.25 | $2.17
2014: $3.30 | $3.26
2013: $3.66 | $3.56
2012: $3.49 | $3.48

Source: GasBuddy