A travel analyst says two significant fuel industry actions could raise Illinois gas prices.
The Organization of the Petroleum Exporting Countries, or OPEC, announced this week that they would slow down on oil production in the coming months, resulting in less oil for the United States.
Illinois currently has among the highest fuel prices in the nation. However, Molly Hart of AAA warns that those prices could increase in the coming months due to the OPEC decision.
“It is about how much oil they are going to produce. With the OPEC decision, it is too early to tell what the long-term consequences will be,” Hart told The Center Square. “In the short term, though, we could see an uptick in gas prices.”
While Illinois sees the risk of higher fuel prices due to international decisions, Hart also discussed how a fire at a refinery in Ohio would also impact fuel.
“Another problem was the fire at the refinery in Toledo a few weeks ago,” Hart said. “That refinery is now shut down and will not be producing or delivering any oil, so that we can see an uptick in gas prices because of that.”
The average price for a gallon of gas in Illinois is $4.38, higher than the national average of $3.86.
State Rep. Dan Caulkins, R-Decatur, said another reason for high prices in Illinois is high state motor fuel taxes. He’s calling for a suspension of the state’s motor fuel tax to ease prices at the pump.
“Instead of giving criminals a financial break with no cash bail, how about we give taxpayers a break at the pump and suspend the motor fuel tax,” said Caulkins. “We were elected to represent our constituents. We need to get back to work and address the important issues facing the state.”
***Courtesy of the Illinois Radio Network***
