The price of gas is dropping in Illinois. It’s at a statewide average now of $3.54, down from $3.79 a month ago, and from $3.78 a year ago at this time, according to the Triple-A Fuel Gauge Report. This is the cheapest August price since 2010. Bill Fleischli of the Illinois Petroleum Marketers Association, representing gas station owners, explains what’s going on: “The world is looking at maybe a little stability in the Mideast , demand is less on supply, so the market’s reflecting a little drop in wholesale, and that’s being reflected at the retail market,” he said.
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The price in Illinois is still higher than in neighboring states. Fleischli says this is due to Illinois charging a sales tax on gasoline, a percentage tax that gets higher as the wholesale price gets higher.