While average gas prices remain under $4 a gallon both in Illinois and nationwide, prices have climbed significantly in the past week – with a gallon of unleaded gas costing an additional 14 cents on average.
While average gas prices remain under $4 a gallon both in Illinois and nationwide, prices have climbed significantly in the past week - with a gallon of unleaded gas costing an additional 14 cents on average.
As of Monday, the average price for a gallon of unleaded gas was $3.83 - compared to $3.69 a week earlier, according to numbers released byIn the city of Chicago, the cost is higher - at $4.23 a gallon, which also marks a 14-cent uptick from the week prior. A notable increase has also occurred nationwide, although the national average is more than 30 cents lower than that in Illinois. The average cost for a gallon of unleaded gas, on a national level, is $3.51 a gallon, a 7-cent jump from a week prior.
While gas prices are significantly lower than during the same period last year - when the national average was $4.19 - it appears there's a specific reason for the most recent uptick.Sign up for NBC Chicago newsletters. Prices quickly jumped over the weekend, according to AAA, after Saudi Arabia and the Organization of the Petroleum Exporting Countries announced a surprise production cut. Oil production will be slashed by more than a million barrels a day starting in May, in an apparent effort to prop up oil prices.
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