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Gas prices continue to rise; experts expect prices to go down soon

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ROCKFORD (WREX) — Gas prices in Rockford rose slightly over the past week, but experts expect prices to go down soon.

Gas prices rose about .5 cent in the past week in Rockford and currently are averaging $3.12/g, according to GasBuddy.

GasBuddy says he price of gas is currently 13 cents higher than last month and $1.11/g higher than this time last year.

After most of the country, especially the southeastern states, saw a rise in prices after the Colonial Pipeline shutdown last week, experts say prices should see a drop in prices before Memorial Day.

"The national average gas price surged last week thanks to big price jumps in Southeastern states due to the previously shut down Colonial Pipeline, but most areas outside that region saw smaller fluctuations," said Patrick De Haan, head of petroleum analysis for GasBuddy. ". "With the pipeline now back in service, I expect prices to come down in the hardest hit states, specifically the Carolinas, Georgia, Tennessee, Florida and Virginia. The drops should lead the national average to soon fall back under the $3 per gallon mark, but motorists shouldn't get too excited- prices may start to head higher in a few weeks should Memorial Day gasoline demand be red hot. In addition, motorists in the affected areas should see outage numbers continue to decline this week, especially early in the week when gasoline demand tends to be lowest. I'm optimistic that there will be enough recovery by Memorial Day for motorists in these states to fill up without having to search for gasoline."

GasBuddy says the cheapest station in Rockford this morning is $2.84/g while the most expensive is $3.19/g.

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Andrew Carrigan

Andy Carrigan is the Social Media & Digital Content Manager at WREX. He joined the 13 WREX team as a photographer in 2016 after graduating from Northern Illinois University.

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