18 November 2019

AURORA, Ill., (November 18, 2019) –   On the week, gas prices are mostly cheaper across the country. A small number of states saw pump prices decrease more than a dime, though the majority saw fluctuation of a few pennies. Today’s national average of $2.59 is two cents cheaper than last week.

An increase in gasoline stocks amid robust demand helped to push gas prices cheaper on the week, AAA expects this trend to continue throughout most of the month, but the exception is Thanksgiving. With nearly 49.3 million Americans expected to travel by car for the holiday, gas prices may start to fluctuate by the end of this week.

Today’s national average is six cents less than last month and three cents cheaper than this time last year.

Pump price volatility continues across the Great Lakes and Central States. Four states landed on the top 10 list of largest pump price changes in the country: Ohio (+9 cents), Michigan (-8 cents), Kentucky (-6 cents) and Indiana (+4 cents). However, most states in the region saw gas prices decrease by one to three cents. In addition to Ohio and Indiana, Illinois and South Dakota also saw gas price increases, though only by one cent.

While Illinois ($2.65) carries the highest pump price average in the region, most state averages range from $2.35 - $2.55.

 

 

Monday

Sunday

Week Ago

Month Ago

One Year Ago

National

$2.597

$2.600

$2.618

$2.656

$2.625

Chicago Metro

$2.773

$2.781

$2.738

$2.860

$2.668

Chicago City

$2.985

$2.982

$2.983

$3.107

$2.973

Bloomington

$2.503

$2.522

$2.486

$2.641

$2.495

Champaign

$2.553

$2.569

$2.455

$2.657

$2.441

Peoria

$2.570

$2.580

$2.543

$2.683

$2.516

Rockford

$2.564

$2.574

$2.571

$2.647

$2.624

Springfield

$2.411

$2.428

$2.489

$2.647

$2.394

Fort Wayne, IN

$2.558

$2.567

$2.368

$2.479

$2.424

South Bend IN

$2.517

$2.530

$2.465

$2.635

$2.372

Click here to view current gasoline price averages

 

Oil market dynamics

At the close of Friday’s formal trading session on the NYMEX, WTI increased by 95 cents to settle at $57.72. Crude prices increased last week due to increased optimism that China and the U.S. – the world’s two largest crude consumers – are continuing to resolve ongoing trade tensions that sparked market fears that global crude demand would suffer as a result of increased tariffs between both countries. Crude prices increased despite new data from EIA that revealed total domestic crude inventories increased by 2.2 million bbl, bringing the new total to 449 million bbl. The current level is 6.9 million bbl higher than last year’s level at this same time. 

 

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

 

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